Allen Stahl + Kilbourne is excited to announce the hiring of Jesse Swords as an associate attorney to join the firm’s busy litigation practice. Jesse is a graduate of Emory University and UNC-Chapel Hill law school and has experience in a variety of litigation matters. Prior to law school, he work…

Information from the Final Round of Paycheck Protection Loans The PPP program will end on August 8th, but there is still time to apply. Banks still accepting PPP applications (7/14): Truist (merger of SunTrust/BB&T) cuts off applications at 6pm today (July 24th)…

During the COViD-19 pandemic, Chief Justice Beasley exercised the emergency powers granted to her in N.C.G.S. §7A-39(b)(1) and 7A-39(b)(2) following Governor Cooper’s declaration of a state of emergency across the state. This response included: On 13 March 2020, the…

COMPREHENSIVE GUIDE TO PPP On March 27, 2020, the ‘‘Coronavirus Aid, Relief, and Economic Security Act’’ or the ‘‘CARES Act’’ (link) became law (PL 116-136). The program was infused with hundreds of billions by “Paycheck Protection Program and Health Care Enhancement Act,”…

Clifton Williams has joined Allen Stahl + Kilbourne (ASK) as its newest attorney starting June 1, 2020. Williams has most recently served as University Counsel on the UNC Asheville legal staff where he has worked since 2014, including three years as the University’s chief legal officer…

The Governor’s May 20 Executive Order 141 moving the state into a modified Phase 2 stage allowed restaurants and (as amended on May 22) breweries, wineries, distilleries, and cider makers with taprooms to open with certain restrictions. A clear theme of the restrictions/guidelines is to maximize…

For Principal Signer(s) needing document notarization During this COVID-19 pandemic, the safety of our clients is most important. To protect the health of all Notaries and signers, Session Law 2020-3 is allowing all North Carolina Notaries Public to temporarily perform emergency video notarizations…

In this unprecedented crisis, both commercial tenants and landlords have serious concerns about the terms of their leases, the inability to operate their business in the leased premises, and the payment of rents. Parties to commercial leases (both tenants and landlords) are seeking guidance regarding…

As of April 29th: Mnuchin threatens audit of Paycheck Protection Program (PPP) recipients Index Current Update SBA Guidance Lender List First Round Scorecard Prior Updates UPDATE: On April 29th, Treasury threatens audits of PPP…

On April 23rd, Governor Cooper announced that the Stay at Home order would be extended from April 29 to May 8th. (E.O. 135) In addition, the Governor announced the process for re-opening the state. Phase One begins as the state is willing to begin lifting restrictions.

Information from the First Round of Paycheck Protection Loans Banks lending at end of First Round We have marked the smaller lending institutions below with an § if they have assets less than $10 billion and §§ if they have between $10 billion and $50 billion in…

Buncombe County issued an updated Stay at Home Order (also called the Superseding Declaration), effective April 9, 2020 at 6:00AM. (HERE) The County also issued Guidance. (HERE) Where does the Order apply? Throughout Buncombe County, including within the municipal limits…

On March 27, 2020, the ‘‘Coronavirus Aid, Relief, and Economic Security Act’’ or the ‘‘CARES Act’’ (link) become law. The law is over 800 pages long and carries a price tag of $2 trillion. This stimulus package contains provisions for a small business loan package…

On behalf of our firm, we would like to remind our business clients that COVID-19 has not affected the deadline for filing Annual Reports with the Secretary of State, which is originally, and remains to be, April 15, 2020. Furthermore, this deadline may apply to the following additional North…

The CARES Act (PL 116-136) contains several provisions to assist existing SBA 7(a) borrowers. - The CARES Act relieves borrowers of any obligation to pay the principal, interest, and associated fees owed on a 7(a) loan in regular servicing status for 6 months; - The time period…

The question has been raised whether persons are allowed to relocate their primary residences during this crisis. It is important to consider both the letter and the spirit of the orders. On March 27, 2020, Governor Roy Cooper issued a Stay at Home Order for the entire State of North…

The CARES Act (PL 116-136) contains several provisions related to rent, mortgages and landlords to attempt to protect renters, landlords, and mortgages. These protections are in the form of forbearances. Forbearance: a temporary postponement of payments. It is a form of…

In the interplay of New Paycheck Protection Loans created by the CARES Act in a new section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) and Economic Injury Disaster Loans (EIDLs), which is codified at section 7(b)(2) of the Small Business Act…

With the entire State of North Carolina entering a Stay at Home Order, only Essential Business will continue. Is Construction Essential? On March 27, 2020, Governor Roy Cooper issued a Stay at Home Order for the entire State of North Carolina (Executive Order No. 121, “State Order”…

On March 27, 2020, Governor Roy Cooper issued a Stay at Home Order for the entire State of North Carolina (Executive Order No. 121, “State Order” or “E.O.”) The order takes effect in all 100 counties on March 30, 2020 at 5:00 P.M. for thirty (30) days. It is important to