There has been a clear shift in the political environment propelled by public discussions of certain large, public companies obtaining loans under the Paycheck Protection Program (the “PPP”) authorized by the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), including Shake Shack, Ruth’s Chris and others[1]. During this time, many small businesses have been quoted in the press expressing frustration with their inability to access the PPP program prior to the first round of guarantee authority being exhausted.
The ESOP Association
ESOP Association Resources
Apr. 24
New guidance assures that ESOP companies are eligible for key federal relief under the Paycheck Protection Program.
Apr. 24
New guidance and a resource page from the EEOC can help reduce risk as employers make plans to reopen their businesses.
Apr. 22
Congress and the Trump Administration have reached a deal on a new round of coronavirus aid entitled the Paycheck Protection Program Increase Act of 2020. The ESOP Association has remained aggressively engaged with key leaders in Congress and the White House to ensure ESOPs and employee owned businesses remain front of mind as legislation is drafted.
Apr. 08
Washington Alert: Senators Tell SBA That ESOPs Qualify for Relief, Urge Clear Instruction to Lenders
In response to TEA request, two influential Senators take action to clear the way for ESOPs to receive PPP funds.
Apr. 02
Sharing these three informational resources with your employee owners can help them grapple with today’s challenges.
Apr. 01
The CARES Act offers credits to businesses that take steps to retain their employees. This Q&A can help ESOP Association members better understand these credits and how they are applied.
Mar. 30
ESOP companies can apply for greatly expanded federal financial assistance that may qualify for partial or full debt forgiveness. Read More
Mar. 26
See how the latest bill for COVID-19 relief, just passed by the Senate, can help ESOP companies grapple with the economic downturn.
Mar. 25
The ESOP Association today sent a letter to the Secretary of Labor asking for emergency plan flexibility, regulatory guidance, and investigatory relief for active or new routine EBSA investigations.
ESOP Association President & CEO Jim Bonham specifically requested that DOL:
ESOP Association President & CEO Jim Bonham specifically requested that DOL: