On June 8, 2020, the Board of Governors of the Federal Reserve System (Federal Reserve) issued a Press Release (the FRB Press Release) announcing an expansion of its Main Street Lending Program (Program) to help more small-...more
On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (the Act) was signed into law. The Act amends the Paycheck Protection Program (PPP) established by the Coronavirus Aid, Relief, and Economic Security...more
On May 22, 2020, the Small Business Administration (SBA) and the Department of the Treasury (Treasury) issued two Interim Final Rules related to the Paycheck Protection Program (PPP): 1) an Interim Final Rule on loan...more
On April 9, 2020, the Board of Governors of the Federal Reserve System (Federal Reserve) announced the details of the Main Street Lending Program (Program), authorized under Section 13(3) of the Federal Reserve Act and...more
On April 2, 2020, the Small Business Administration (SBA) issued an Interim Final Rule (IFR) regarding the $349 billion Paycheck Protection Program (PPP) under Title I of the Coronavirus Aid, Relief, and Economic Security Act...more
On March 23, 2020, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) announced a series of actions intended to support the United States economy during the unprecedented financial crisis caused by...more
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed and signed into law on March 27, 2020, includes several items intended to relieve the pressure on small businesses caused by the coronavirus (COVID-19)...more
Today, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or the “Act”), which the Senate approved on the evening of March 25th, received House approval and was signed by the President into law. The Act...more
Corporate borrowers and issuers typically access the credit markets only for need or opportunity, so may not actively monitor loan market conditions. As a leading firm with a nationally ranked practice representing borrowers...more