COVID-19 Update 8/6/2020


PPP Loan Forgiveness Update

The Small Business Administration (SBA} announced that it would be opening an online portal on August 10 for lenders to submit loan forgiveness applications and materials.  However, lenders are still waiting for further guidance from the SBA on a number of policy issues and technical fixes, which could delay submissions. 

Additionally, in Washington D.C. Congressional debate continues on another coronavirus stimulus package and the portal opening could be delayed if Congress passes new legislation which changes the rules for forgiveness. 

As things stand now, to receive PPP loan forgiveness a borrower must complete and submit the Loan Forgiveness Application (SBA Form 3508, 3508EZ, or Lender equivalent) to its Lender (or the Lender servicing its loan). The Lender must complete the review of the application and issue a decision to SBA, along with the required documents, not later than 60 days after receipt of a complete application from the borrower. SBA will, subject to any SBA review of the loan or loan application, remit the appropriate forgiveness amount to the Lender, plus any interest accrued through the date of payment, not later than 90 days after the Lender issues its decision to SBA.

Lastly, the Treasury Department updated its FAQs for loan forgiveness on August 4th. See them here.



This week, organizers of the SEMA and AAPEX shows announced that the shows would not be held as live events due to the expanding spread of the COVID-19 pandemic.  The shows were scheduled for November 2 – 5 in Las Vegas.


Enforcing the Mask Mandate

A recent article on offered these 5 ways to encourage mask usage by customers:

  • Make your signage very clear in your marketing, and in signs on your store. If you’re looking for resources, the State of Minnesota has provided some here.
  • Give masks away for free.
  • Support employees who have to enforce rules.
  • Find ways to deliver products/services to customers without contact.
  • Fire some of your customers – the customer is not always right!


Testing Reminders

Several federal agencies, including the Equal Employment Opportunity Commission (EEOC), Departments of Labor (DOL) Health and Human Services (HHS) and the Treasury, have provided guidance on the scope of testing requirements.  Here are some highlights:

  • Employers are prohibited from requiring mandatory antibody testing.
  • COVID-19 testing costs: Health insurers are required to provide coverage for testing needed to diagnose COVID-19 without cost-sharing in compliance with the FFCRA and the CARES Act.
  • The tests must be FDA-approved and would need to be conducted only during the pandemic.
  • Multiple tests: Insurers must cover more than one COVID-19 test on the same person, provided a second, third, etc., test is recommended by a health professional.
  • Out-of-network COVID-19 tests: While the CARES Act prohibits surprise medical billing for COVID-19 testing, the guidance makes it clear out-of-network providers won’t be able to bill patients for charges in excess of what the insurer pays for the testing and related doctor’s visits.

The State of Minnesota maintains a website where Minnesotans can find a COVID-19 testing site near them.

The site includes a map that features over 200 different clinics and health care facilities that offer the tests. Sites might require an appointment before you arrive, so call ahead to see what your nearest testing site requires.



Note: This content and analysis is for informational purposes only and should not be construed as legal advice. Please consult your legal and financial advisors for detailed information before taking any action.


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