Law360 quoted Lisa Zarlenga in a May 20 article titled "Opportunity Zone Bill May Help Cos. That Missed PPP Funds." The article discusses how a proposal to allow small businesses affected by COVID-19 to qualify for opportunity zone investments could shore up the finances of companies that missed Paycheck Protection Program funds.
Zarlenga tells Law360 that despite the benefits, these small businesses may not receive these funds quickly — when they most desperately need it — because other parts of the opportunity zone law must still be followed. "When I first read the bill I thought it was automatically deemed to be a QOZB, but then I realized you still have to meet the other qualifications to be an opportunity zone business," she says. "That can be viewed as a guardrail or additional hoops to jump through."
The full article can be read at Law360 (subscription required).