Business Services
In the field of Business Services, we regularly advise public and private companies, private equity firms, investment banks, government entities, middle-market companies, individual entrepreneurs, and other institutions in a broad spectrum of business and financial matters.
Recognized by Chambers USA and U.S. News – Best Lawyers® "Best Law Firms," as a leading law firm in the delivery of sophisticated corporate services, the attorneys of Stites & Harbison regularly counsel clients on a broad range of matters from strategic transactions to the day-to-day operations and success of their business.
We provide dedicated and cost-effective counsel on:
- Administrative Law
- Airport Law
- Business Expansion, Relocation & Government Incentive Programs
- Charitable & Nonprofits
- Commercial Finance
- Contract Drafting
- Negotiations for Public & Private Partnerships
- Succession Planning
- Corporate Finance & Securities Offerings
- Corporate Governance & Disclosure
- Employee Benefits
- Entertainment Law
- Entrepreneurial Services
- ESOPs
- Joint Ventures
- Mergers & Acquisitions
- Securities
- Taxation
- Trade Association Law
The lawyers of Stites & Harbison work collaboratively, across industries and practices, to provide the most comprehensive and thorough legal representation.
PPP Loan Application Extension Signed Into Law As Congress and White House Debate Repurposing of Funds
On Saturday, July 4, 2020, following a surprise vote by the U.S. Senate earlier in the week and quick passage in the House of Representatives, a bill extending the Paycheck Protection Program (“PPP”) loan application deadline from June 30, 2020 to August 8, 2020 was signed into law by the President. However, with a recently reported $130 billion out of the $669 billion in total funding allocated to this stimulus program still unspent, policymakers in Washington are considering whether these monies should be repurposed.
Information You Need on the COVID-19 Coronavirus
Stites & Harbison has assembled a Coronavirus Response Team which consists of a cross-disciplinary task force of attorneys and critical staff members to ensure our firm remains “On the Job” for you. Updated 07/06/20
$5 Billion of New Market Tax Credits in Search of High Impact Projects
It is anticipated that the Community Development Financial Institutions Fund (“CDFI”) will announce $5 billion in New Markets Tax Credits (“NMTC”) allocation awards within the next several weeks.
U.S. Senate Unexpectedly Passes Bill Extending PPP Application Deadline
On the evening of June 30, 2020, a few hours before the Paycheck Protection Program (“PPP”) loan application deadline was set to expire, the U.S. Senate unanimously passed a bill amending the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) to extend the deadline from June 30 2020 to August 8, 2020.
Main Street Loan Program
Recently, the Federal Reserve initiated a new commercial lending facility that has been promised for months, the Main Street Lending Program (“MSLP”), consisting of three new loan facilities: the New Loan Facility, Expanded Loan Facility and Priority Loan Facility.
New Federal Law Makes Important Changes To Paycheck Protection Program
The Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”), which is intended to address problematic elements of the Paycheck Protection Program (“PPP”), was signed into law by the President on June 5, 2020.
OSHA Revises COVID-19 Guidance
On May 26, 2020, OSHA rescinded its prior memo dated April 10, 2020, and provided updated “Enforcement Guidance for Recording cases of Coronavirus Disease 2019 (COVID-19)”.
SBA Extends PPP Loan Safe Harbor Repayment Date to May 18, 2020
Last night, the U.S. Small Business Administration extended the safe harbor deadline for the repayment of Paycheck Protection Program loans from May 14, 2020 to May 18, 2020.
New SBA Guidance on PPP Loans and the Necessity Certification: Safe Harbor for Loans Under $2 Million and SBA Remedies for Certain Adverse Determinations
Against a backdrop of considerable anxiety in the business community regarding many aspects of the Paycheck Protection Program (“PPP”), the U.S. Small Business Administration (“SBA”) today issued its promised guidance on how it will review a borrower’s good-faith certification of economic need in connection with a PPP loan.
No Good Deed: Protecting Yourself and Your Business from a Governmental Investigation Concerning Your PPP Loan
In a time when more than $650 billion in stimulus funds are being pumped through the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), the potential for bad actors to create havoc for business owners reliant upon these mostly forgivable loans is almost guaranteed.
COVID-19 Scams: What Employers Need to Know
As businesses configure their workplaces to include new safety measures such as providing temperature checks, supplying necessary personal protective equipment (PPE) to employees, or installing hand sanitation stations, they must also be cautious of suspicious activities from fake suppliers, vendors, and other scammers attempting to exploit the current COVID-19 pandemic.
PPP Loan Update: Safe Harbor Repayment Deadline Extended from May 7, 2020 to May 14, 2020
In connection with the application process for a Paycheck Protection Program (“PPP”) loan, borrowers are required to certify in good faith that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.”
Chambers USA 2020 Honors 19 Stites & Harbison Attorneys
LOUISVILLE, Ky.—Chambers USA selected 19 Stites & Harbison, PLLC attorneys in Kentucky and Tennessee for inclusion in their 2020 guide.
The Los Angeles Lakers and the Paycheck Protection Program: U.S. Treasury Secretary Mnuchin Calls Flagrant Foul and Pledges Full Audits for Larger Loans
The Los Angeles Lakers, one of the most valuable sports franchises in the world, returned to the front page this week despite the suspension of the NBA season, and there are important repercussions for participants in the Paycheck Protection Program (“PPP”).
Paycheck Protection Program Update: SBA Issues New Guidance Emphasizing Eligibility Requirements
In an apparent response to controversy related to public companies and larger concerns obtaining Paycheck Protection Program (“PPP”) loans, the Small Business Administration, in consultation with the Treasury Department, today issued additional guidance intended to underscore that loan requests must be necessary based on the actual economic need of the borrower.
WEBINAR: COVID-19 and Your Business — What You Need to Know
Stites & Harbison, PLLC recently presented a webinar covering the various impacts of COVID-19 on businesses. You can review the webinar at any time utilizing the link above.
Updated CDC Guidance for Essential Workers
On April 8, 2020, the Center for Disease Control and Prevention (“CDC”) provided updated guidance for COVID-19 exposed employees for essential businesses, such as groceries, hospitals, and first responders.
Benchmark Litigation names Stites & Harbison as Litigation Firm of the Year for Kentucky
LOUISVILLE, Ky.—Benchmark Litigation recently named Stites & Harbison, PLLC as Litigation Firm of the Year for Kentucky at its 2020 Annual Awards Gala.
SBA Issues Interim Final Rule for Paycheck Protection Program
Provisions of the Paycheck Protection Program of the Coronavirus/COVID-19 economic relief legislation remain subject to change. On Thursday, April 2, 2020, the SBA issued a 31-page interim final rules to update and clarify the existing requirements. The content of this article is current as of Tuesday, April 7, 2020.
COVID-19 and Your Business — What You Need to Know
Time: 11:00 a.m. - 1:15 p.m.
WEBINAR
Please join us for a WEBINAR discussing the impacts of COVID-19 on your business. You can join the webinar at any time and attend whichever presentation(s) that are of interest to you.