Blog

New Guidance from the SBA Concerning Borrower Eligibility Under the CARES Act’s Paycheck Protection Program Highlights Economic Need as a Prerequisite and Offers a “Limited Safe Harbor” to Return Loan Funds for Those Who Do Not Meet this Vague Requirement

By way of Interim Final Rule dated April 24, 2020, the Small Business Administration (“SBA”) issued further agency guidance in connection with borrower eligibility for loans under the CARES Act’s Paycheck Protection Program (“PPP”) (“New Guidance”). In keeping with previous Interim Final Rules, the New Guidance is structured as a series of questions and answers, among which is the following: Do the SBA affiliation rules prohibit a portfolio company of...

Criminal Charges Brought in PPE Transactions

Criminal complaints in two separate cases involving personal protective equipment (PPE) were recently filed in Federal Court in Brooklyn (Eastern District of New York). In the first matter, Donald Allen and Manuel Revolorio, two California businessmen, were charged with conspiracy to commit wire fraud, by seeking in excess of $4 million for KN95 masks and 3-Ply surgical masks that they allegedly did not own or otherwise have authorization to sell. The criminal...

Dental Provider Alert: ADA Requests FCC to Support Teledentistry

Since the declaration of a national public health emergency, oral health providers have postponed most non-emergent care, whether as required by state-issued directives, or as recommended by the Interim Guidance for Minimizing Risk of COVID-19 Transmission from the American Dental Association (“ADA”).  A recent ADA survey found that 80% of dentists are only seeing emergency patients at this time.  Teledentistry provides an avenue for dentists to furnish a variety of...

Let’s Talk: COVID-19 and the Temporary Shutdown of Pharmacies and Medical Practices

https://www.youtube.com/watch?v=G2-iGKlATyU&feature=youtu.be In these trying times many pharmacies and medical practices are facing some degree of temporary shutdowns. Co-Founding Partner Jonathan Levitt, Esq. and our Managing Partner of our New York Office John Morrone, Esq. discuss what providers should know regarding temporary shutdowns.

Toolkit for Healthcare Businesses in Financial Distress

As part of our firm’s commitment to staying abreast of COVID19-related issues affecting our clients, we are continuing to monitor financial relief program requirements and other important topics.  While applying for various forms of aid and loans, we urge you to also consider the variety of other ways to alleviate the financial impact of these extraordinary circumstances.  Examples include: Negotiating with vendors– Consider asking for extended net payment terms, i.e.,...