On April 30, 2020, the Federal Reserve Board announced expanded loan offerings and terms for the forthcoming Main Street Lending Program. Among other changes, Main Street is now open to larger businesses with up to 15,000...more
5/6/2020
/ Affiliates ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Federal Reserve ,
Libor ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
SBA ,
SBA Lending Programs ,
Secured Overnight Funding Rate (SOFR) ,
Small Business
The Federal Reserve’s Paycheck Protection Program Liquidity Facility (“PPPLF”) is now available to non-bank PPP lenders to finance Paycheck Protection Program (“PPP”) loans that they originated or purchased. While the PPPLF...more
Non-bank lenders providing struggling small businesses a lifeline through forgivable Paycheck Protection Program (“PPP”) loans may soon have access to the Federal Reserve’s Paycheck Protection Program Liquidity Facility...more
5/3/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Liquidity ,
Non-Bank Lenders ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, was signed into law. Among other things, Section 4003 of the CARES Act authorizes $500 billion of liquidity to support businesses,...more
The Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, was signed into law by President Trump on March 27, 2020. A central element of the new law is the authorization of the Secretary of the Treasury, under...more