Last weekend, the Small Business Administration, in partnership with the Department of Treasury, published an interim final rule regarding Paycheck Protection Program loans available under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Please see this overview presentation by NLI President and General Counsel John Peiffer for a summary of key information regarding the loan program.
In addition to the religious liberty matters addressed in our recent post, this presentation highlights additional changes issued through the guidance, including updates to:
· Affiliation rules, which now include a religious exemption;
· Loan interest rate (now 1.00%); and
· Restrictions on allowable uses (under the new guidance, at least 75% of the loan funds must be used for certain payroll costs- see Slide 4).
The legal profession is suffering a deep existential crisis. To many who live and practice the law, this is a self-evident truth. To those who do not, but who nonetheless rely on legal professionals, the idea of “good counsel” has been reduced to a mere transaction between client and attorney, with the former often viewing the latter as little more than an expensive technocrat who exists to solve their problems.
"...GCP presents an opportunity for the Fellows to bring the analytical skills developed during law school and the practical, problem-solving skills developed during law practice to Homer, Plato, St. Paul, Aquinas, Dante, and others."
By studying the “great books,” young professionals who are a part of the Good Counselor Project will follow the familiar adage engraved at the temple of Apollo at Delphi, “Know thyself.” We can only know ourselves when we know our intellectual roots. The Good Counselor Project will help young lawyers converse about virtue, which, according to Socrates, is man's greatest good.