Wednesday, May 20, 2020
May 20, 2020 By Mark Opara and Emily Crane, On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) into law, allocating $100 billion in funding for the CARES Act Provider Relief Fund (the “Fund”). As outlined in previous alerts here and here, the U.S. Department of Health […]
Wednesday, May 20, 2020
May 20, 2020 By: John Fuchs, Bailie Schnackenberg, and Char Heins On Friday May 15, 2020 the Small Business Administration (SBA) released the Paycheck Protection Program (PPP) Loan Forgiveness Application (the Application). The Application and instructions are available directly from the SBA here. The Application provides line by line instructions that walk Applicants through the […]
Monday, May 18, 2020
May 18, 2020 Seigfreid Bingham is saddened to announce the death of longtime shareholder David E. Shay. He passed away suddenly on May 11, 2020 of natural causes. Dave was a graduate of Cameron R1 High School in Cameron, Missouri. He earned a B.S. in Journalism from the University of Kansas in 1984, then went […]
Wednesday, May 13, 2020
By John Fuchs, Bailie Schnackenberg, & Char Heins May 13, 2020 In light of the impending safe harbor deadline to return funds received from the Paycheck Protection Program (“PPP”), the Treasury Department released additional guidance today to assist businesses in evaluating whether to take advantage of the safe harbor or retain PPP loan proceeds. This […]
Saturday, May 9, 2020
May 9, 2020By Curry Sexton Jackson County, Missouri released guidelines for the first phase of its four-phase economy recovery plan (the “Plan”) on Wednesday. Phase one is set to begin on Monday, May 11, simultaneous with the launch of similar plans in Kansas City, Kansas and Johnson County, Kansas. The Plan “is focused on protecting […]
Monday, May 4, 2020
May 4, 2020By Curry Sexton The Economic Development Council of Kansas City (EDCKC), in partnership with the City of Kansas City, Missouri (KCMO), recently announced that it is now accepting loan applications to help ease some of the financial burden imposed upon small businesses by COVID-19. EDCKC, also known as LoanUp, was provided $500,000 by […]
Monday, May 4, 2020
May 4, 2020 By Heath Hoobing & John Fuchs On May 1, 2020, the Internal Revenue Service announced that business expenses paid with a forgiven federal Small Business Act (SBA) loan are not deductible. As we reported in a previous post, the federal CARES Act significantly expanded the SBA Section 7(a) loan program by creating […]
Thursday, April 30, 2020
By Curry SextonApril 30, 2020 Mayor Quinton Lucas announced a plan Wednesday for a phased reopening of Kansas City businesses and institutions that have been closed down during the COVID-19 pandemic and related emergency order. Under the plan, a new emergency order (the “Order”) will go into effect at 12:01 a.m. on Wednesday, May 6 […]
Thursday, April 30, 2020
April 30, 2020By Curry Sexton and Greg Whiston The NCAA Board of Governors announced Wednesday that it supports rule changes that would enable student-athletes to receive compensation for third-party endorsements, social media influencing, personal appearances, and other promotions that are both related to and separate from athletics. The compensation that student-athletes would become entitled to […]
Wednesday, April 29, 2020
By: John Fuchs, Bailie Schnackenberg, and Char Heins April 29, 2020 Recent publicity regarding large business entities obtaining millions of dollars in Paycheck Protection Program (“PPP”) loans has resulted in additional guidance from the Department of Treasury and the Small Business Administration (“SBA”) regarding eligibility for the PPP. In particular, the Treasury Department has issued […]