Updated Benefits for Senior Living Facility Owners and Operators -
Effective October 30, 2020, the Federal Reserve updated its Term Sheets and Frequently Asked Questions (the “Updated FAQs”) describing the Main Street...more
Effective June 20, 2020, the Federal Reserve updated its Term Sheet and Frequently Asked Questions (the “Updated FAQs”) describing the Main Street Lending Program (the “Program”) to expand the number of businesses that may be...more
6/24/2020
/ Assisted Living Facilities (ALFs) ,
Borrowers ,
Economic Injury Disaster Loans ,
Federal Reserve ,
Interest Rates ,
Loan Forgiveness ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Operators ,
Paycheck Protection Program (PPP) ,
Property Owners ,
Senior Housing
In response to public feedback to the initial terms of the Main Street Lending Program (the “Program”), the Federal Reserve Board announced on April 30, 2020, an expansion of the loan options available to businesses and an...more
Many senior living owners and operators have found that the Payroll Protection Program loan program either provides insufficient support to them or that they are ineligible for PPP loans. PPP loans are sized to only cover...more