On May 27, 2020, the Federal Reserve Bank of Boston released additional guidance in the form of revised Frequently Asked Questions (“FAQs”), along with forms and agreements, on the Main Street Lending Program...more
On May 4, 2020, the Federal Reserve Bank of New York (“the Fed”) released Frequently Asked Questions (“FAQ”) regarding the previously announced Primary Market Corporate Credit Facility (“PMCCF”) and the Secondary Market...more
On April 30, 2020, the Federal Reserve (the “Fed”) announced an expansion of the scope of its previously announced Main Street New Loan Facility and Main Street Expanded Loan Facility and provided additional guidance in the...more
On April 9, 2020, the Federal Reserve (the “Fed”) announced significant additional measures to provide up to $2.3 trillion to support the U.S. economy amid the COVID-19 pandemic. These measures include the following newly...more
Updated April 3, 2020 On April 2, 2020, the Small Business Administration (the “SBA”) issued an Interim Final Rule (the “Rule”) announcing the implementation of the Paycheck Protection Program (“PPP”) of the Coronavirus Aid,...more
Congress is imminently expected to approve a $2.2 trillion stimulus package known as “The Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” to provide emergency assistance to deal with the 2020 novel...more
3/30/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance
On March 11, 2020 the World Health Organization (WHO) declared the COVID-19 outbreak to be a pandemic. At a briefing in Geneva, WHO Director-General Tedros Adhanom Ghebreyesus explained the decision: “In the past two weeks,...more