The Federal Reserve (the “Fed”) has announced further changes to its now $600 billion Main Street Lending Program. From the program’s initial construct, which seemed aimed at larger companies, minimum loan sizes have been...more
With the dire economic contractions occasioned by the rapid spread of COVID-19 nationally and globally, many businesses are quickly running short of capital to make payroll, pay rent, cover other critical overhead and remain...more
On April 23, 2020, the Small Business Administration (SBA) issued clear guidance concerning the Paycheck Protection Program (PPP), mandating borrowers must need the money or else they should pay it back. The guidance is...more
In an April 9, 2020, press release, the Federal Reserve (the “Fed”) announced additional actions to provide up to $2.3 trillion in loans to support the economy. The Fed’s stated goal is to “assist households and employers of...more
The Senate has approved legislation known as the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which is designed to provide much needed economic relief to individuals and businesses devasted by COVID-19. ...more