News

Friday, Eldredge & Clark, LLP is proud to announce Taylor A. Stockemer and Kael K. Bowling as the firm’s newest partners. Taylor, a highly accomplished professional with a diverse background in Mergers & Acquisitions, securities and investment banking, and regulatory law and Kael, who serves as litigation counsel to financial institutions, creditors, real estate and construction firms, and other business entities.

The PPP Extension Act, signed by President Joe Biden on Tuesday, extends the deadline for PPP applications to May 31, 2021. The Act also provides that the SBA will have until June 30, 2021 to process applications. While applicants now have an additional two months to apply for a first or second draw PPP loan, the Act does not provide any additional funding for the current round of PPP. As of March 28, 2021 the SBA has disbursed around $734 billion of the $806 billion appropriated by Congress to the program.

Beginning today, under the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 and the American Rescue Plan Act of 2021, the Federal Emergency Management Agency (FEMA) will provide financial assistance for COVID-19 related funeral/cremation expenses incurred after January 20, 2020.

The Arkansas Hospitality Association hosted a webinar to educate their members on potential loans available through the Paycheck Protection Program. Friday, Eldredge & Clark Attorneys Robert T. Smith and Madeline O. McElhanon addressed recent updates to the program and discussed its application to the travel and tourism industry.

The extended Paycheck Protection Program (PPP) is of particular interest to those in the tourism industry because it addresses specific issues businesses like hotels, restaurants and bars are facing and have faced during the pandemic. Below is a summary of two recent articles that explain the loan program in more detail.

Attorneys Mike Moore and Katherine Campbell discuss the most pressing COVID-issues in the workplace and give an update on new legislation that includes unemployment rates. The webinar is part of the firm's monthly Lunch and Learn Webinar Series. (March 4, 2021)