Thought Leadership - Manatt, Phelps & Phillips, LLP

Did You Really Need That PPP Loan? The SBA Wants to Know

Without much fanfare, the Small Business Administration (SBA) has started investigating borrowers of larger Paycheck Protection Program (PPP) loans to obtain information about their business activities.

Nonprofit, SBA, Equity, Loans, PPP

Raising Capital Through Private Placements: Rule 506(b) vs. Rule 506(c) Offerings

Startups, and particularly first-time founders, typically find that raising funds is a significant, challenging and time-consuming process.

SEC, Investment, Stock, Founder, Capital Raise, Regulation D, Federal Securities Laws, Securities Act of 1933, Private Placement, Rule 506(b), Rule 506(c), Accredited and Nonaccredited Investors

SEC Makes Key Changes to Accredited Investor Definition

In its Final Rule issued on August 26, 2020, a divided Securities and Exchange Commission (SEC) expanded the group of individuals and entities permitted to invest in private securities by amending the definitions of “accredited investor” and “qualified institutional buyer.”

Selecting the Appropriate Structure for Your Startup

Founders must contend with many important decisions early in the life of a startup, including selecting the appropriate corporate structure.

Investment, Corporate Structure, C Corporation, S Corporation, LLC, Limited Liability Company, Incorporation, Founder, Formation

Thirty-Nine Manatt Professionals Recognized by Super Lawyers in California

Thirty-nine of Manatt@s professionals were named to this year@s Super Lawyers list in the organization@s Northern California and Southern California publications. Of those, 27 were recognized on the 2020 Super Lawyers lists, while 12 individuals were named on the 2020 Rising Stars lists.Published by Thomson Reuters,@Super Lawyers@is a rating service of attorneys from more than 70 practice areas...

Awards, California

Volcker Rule Changes Provide Stimulus Effect With Banks and Investment Funds

On June 25, 2020, federal banking and securities regulators issued new regulations that will ease burdens on banks that involve themselves with certain types of investment funds.

Bank Secrecy Act Compliance Issues for Small-Business Lending Under the CARES Act

With many banks and credit unions electing to limit Paycheck Protection Program (PPP) loans to existing customers, many nonbank lenders are scrambling to fill the gap and take part in the $349 billion program prior to the end of the application period on June 30, 2020.

An Updated Practical Guide for Small Businesses to Obtain a Paycheck Protection Loan Under CARES Act

On April 2, 2020 and April 4, 2020, the Small Business Administration (SBA) issued unusual interim final rules (the Rules) providing further detail regarding Paycheck Protection Program loans under the CARES Act. The Rules will take effect immediately upon publication in the Federal Register.

SBA Issues Interim Final Rule for Paycheck Protection Loans

On April 2, 2020, the Small Business Administration (SBA) issued an unusual interim final rule (the Rule) providing further detail regarding Paycheck Protection Program loans (PPP Loans) authorized under the CARES Act.

Emerging Companies and COVID-19 Two-Part Series

Like the rest of the business community, emerging startup companies are being presented with new and unexpected challenges brought on by the coronavirus pandemic.