In an effort to combat the spread of COVID-19, Congress is seeking to eliminate some red tape surrounding biomedical research and development. Specifically, Congress has removed approval requirements on specific transitions to support advanced research and development initiatives.
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SBA’s Economic Injury Disaster Loan Program Expanded for COVID-19 Disaster
The Coronavirus Aid, Relief, and Economic Security (CARES) Act created the Paycheck Protection Program as one tool to help small businesses. But it also provided for additional emergency funds under the SBA’s existing Economic Injury Disaster Loan (EIDL) program. Congress appropriated $10 billion for the program. Here are some of the main details on this program.
Continue readingSmallGovCon Week In Review: March 30 – April 3, 2020
This past week, SmallGovCon continued to provide important updates and insights related to how federal contractors can prepare and support their business during this unprecedented response to the COVID-19 pandemic.
Because we’ve provided a lot of information, I’ve summarized what our authors discussed in the past week, as well as providing a roundup of other news in the government contracting arena.
Continue readingUPDATE: Paycheck Protection Program Form Now Does not Disqualify Businesses for Foreign Ownership
UPDATE: The form this post references has been revised to ask whether the United States is the “principal place of residence for all employees of the Applicant included in the Applicant’s payroll calculation”.
Based on the text of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the fact that a company has foreign owners shouldn’t necessarily disqualify it from participating in the Paycheck Protection Program (PPP).
But the form used to apply says otherwise.
Continue readingDefense Department Provides COVID-19 Guidance
Last week, we wrote about OMB’s guidance to contracting officers in dealing with the extraordinary challenges caused by COVID-19. Among other things, OMB instructed agencies to be flexible in providing extensions on performance deadline and encouraged open communication with industry partners on the response to COVID-19.
Now, the Department of Defense—the federal government’s largest purchasing unit—has issued its own guidance to constituent agencies.
Continue readingClient Spotlight: Penn Parking Fights COVID-19 by Making Face Shields
When you are a business that manages parking lots and garages and then suddenly out of the blue the entire country stops leaving the house, well, you’d be excused for some despair.
But that’s not what Penn Parking, Inc., did. Instead, it decided to help. It is making face shields for doctors, nurses, and other healthcare professionals on the front lines in Maryland, where Penn Parking is located.
Continue readingPaycheck Protection Program under the CARES Act: Keeping Small Business Workers Employed
In the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Congress appropriated $349 billion for loans to small businesses. These loans, issued under the Paycheck Protection Program, are aimed at helping small businesses keep their workers on payroll by providing loans, up to $10 million, that are partially forgivable.
Let’s explore some of the details of this important program instituted as part the U.S. Government’s response to COVID-19.
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