
Reopening Massachusetts Businesses: What to Know About Phase 1
Reopening Massachusetts Businesses: What to Know About Phase 1
Reopening Massachusetts Businesses: What to Know About Phase 1
The goal for those with Paycheck Protection Program (“PPP”) loans is to have the amount borrowed forgiven. Borrowers that can turn a PPP loan into a grant can defray lost revenues during the COVID-19 crisis. Meeting the requirements for forgiveness is key, but can be thwarted if the employer had to lay off or furlough staff. (For more information on the PPP, browse our various articles on the subject).
The Massachusetts Department of Unemployment Assistance has issued emergency alerts clarifying how the normal unemployment benefits program is modified during the COVID-19 emergency. Under the CARES Act, states that accept the federal program can offer additional unemployment benefits of $600 per week for COVID-19 related unemployment.
On April 1, 2020, the Families First Coronavirus Response Act (FFCRA) will commence and be effective through December 31, 2020 for employers with less than 500 employees in the United States. On March 24, 2020, the DOL issued an informal compliance guide in a Q&A form which provided some clarification on this new legislation. Here are some considerations to keep in mind as employers implement the new leave requirements.
This article originally appeared on Citybizlist as part of a series featuring Burns & Levinson attorneys helping businesses and individuals navigate the many challenges that COVID-19 presents.