Adam S. Woodruff and Timothy D. Woodward, partners in Shutts & Bowen LLP’s Tampa office, discussed key takeaways of federal funding under the CARES Act, as well as best practices for applying and preparing for such relief, in an article published by the Business Observer.
In the article, titled “Crisis relief is tantalizing, but patience, paperwork, will be key,” Adam and Tim respond to frequently asked questions related to federal funding relief. The piece offers guidance and tips to uncertain business owners who may hope to receive federal funds through the Coronavirus Aid, Relief and Economic Security (CARES) Act. The article specifically addresses application, eligibility, coverage and approval processes for the Paycheck Protection Program (PPP).
According to the article, of the five programs under the CARES Act designed to provide relief to business owners during the Coronavirus pandemic, the PPP is likely to be the most commonly utilized program. Commenting on PPP, Adam answered key questions related to streamlined approval processes and loan forgiveness under the CARES Act. Tim, who leads the Construction Practice group, discussed key preparations that businesses should consider if hoping to successfully apply for a loan under the CARES Act.
To read the full article, click here.
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About Adam S. Woodruff
Adam Woodruff is a partner in the Tampa office of Shutts & Bowen LLP, where he is a member of the Corporate Practice Group. Adam concentrates his practice in the areas of banking law, corporate, real estate and business transactions. He represents financial institutions, including national, regional and community banks, in structuring, documenting and closing complex credit facilities. He has also assisted financial institutions with loan workouts and foreclosure related matters. Adam also represents international, national and regional clients with the formation of business entities, business acquisitions and sales, mergers, real estate acquisitions and sales, commercial leasing, commercial lending and real estate finance.
About Timothy D. Woodward
Timothy D. Woodward is a partner in the Tampa office of Shutts & Bowen LLP, where he is Chair of the firm’s Construction Litigation Practice Group. Florida Bar Board Certified in Construction Law, Tim focuses his practice on commercial construction litigation. Tim has experience assisting clients with construction law and commercial litigation related issues in the State of Florida. He has achieved successful results for clients in jury and non-jury trials in Florida’s state and federal courts and in various arbitration proceedings. He’s been listed among the Best Lawyers in America® in Construction Law since 2012 and has been recognized by Florida Super Lawyers since 2011. Tim represents design professionals, contractors, owners, and developers in a myriad of disputes, including claims regarding design errors and omissions; delay and acceleration damages; bonds and liens; professional negligence and licensure; building code and Americans with Disabilities Act violations; construction and materials defects; fraud and civil RICO; personal injuries; and, wrongful death.