The Federal Reserve Bank of Boston announced on July 6, 2020, that the Main Street Lending Program (“Main Street Program” or “Program”) is now fully operational and ready to purchase participation in eligible loans that are...more
7/30/2020
/ CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
Federal Reserve ,
For-Profit Corporations ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street Priority Loan Facility ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Primary Market Corporate Credit Facility (PMCCF)
Below are the top ten things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020. There are two forms and two sets of...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/16/2020
/ CARES Act ,
Construction Industry ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Real Estate Market ,
Safe Harbors ,
SBA ,
Tax Credits
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/16/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Midsize and Large Business Loans ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
SBA ,
Small Business Loans ,
Tax Credits ,
Technology Sector
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/15/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Manufacturing Facilities ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Retail Market ,
SBA ,
Tax Credits
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/8/2020
/ CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Manufacturers ,
Midsize and Large Business Loans ,
NAICS ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Paycheck Protection Program Lending Facility (PPPL Facility) ,
Paycheck Protection Program Lending Facility (PPPLF) ,
Payroll Taxes ,
Retail Market ,
Retailers ,
Safe Harbors ,
SBA ,
Tax Credits ,
Tax Deferral
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/8/2020
/ CARES Act ,
Construction Industry ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Real Estate Market ,
Safe Harbors ,
SBA ,
Tax Credits
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/8/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Lending Programs ,
Midsize and Large Business Loans ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
SBA ,
Small Business Loans ,
Tax Credits ,
Technology Sector ,
U.S. Treasury
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/2/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Reserve ,
Interim Final Rules (IFR) ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Manufacturers ,
Midsize and Large Business Loans ,
Net Operating Losses ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Retailers ,
SBA ,
Small Business ,
Small Business Loans ,
Tax Credits ,
U.S. Treasury
On June 15, 2020, the Federal Reserve announced the launch of its Main Street Lending Program (“Main Street Program” or “Program”) under the CARES Act. This Program was created to provide up to $600 billion in liquidity to...more
7/2/2020
/ CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
EBITDA ,
Federal Reserve ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Paycheck Protection Program (PPP) ,
Primary Market Corporate Credit Facility (PMCCF) ,
SBA ,
U.S. Treasury
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
7/1/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Reserve ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Midsize and Large Business Loans ,
Net Operating Losses ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
SBA ,
Small Business Loans ,
Tax Credits ,
Technology Sector ,
U.S. Treasury
The Small Business Administration (“SBA”) issued another Interim Final Rule (SBA-2020-0038) on June 22, 2020 (“IFR”) clarifying certain issues surrounding the forgiveness of Paycheck Protection Program (“PPP”) loans. For the...more
6/30/2020
/ CARES Act ,
Centers for Disease Control and Prevention (CDC) ,
Construction Industry ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Distribution Rules ,
Energy Sector ,
Healthcare ,
Hospitality Industry ,
Interim Final Rules (IFR) ,
Life Sciences ,
Loan Forgiveness ,
Manufacturers ,
OSHA ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
Retailers ,
Safe Harbors ,
SBA ,
State and Local Government ,
Technology Sector ,
Transportation Industry
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
6/30/2020
/ Applications ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Reserve ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Midsize and Large Business Loans ,
Net Operating Losses ,
Pandemic Unemployment Assistance (PUA) ,
Pandemic Unemployment Emergency Compensation (PUEC) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
Private Equity Firms ,
SBA ,
Small Business Loans ,
Tax Credits ,
Technology Sector ,
U.S. Treasury
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
6/30/2020
/ Applications ,
CARES Act ,
Certifications ,
Commercial Tenants ,
Construction Industry ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Reserve ,
Hotels ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Marinas ,
Midsize and Large Business Loans ,
Pandemic Unemployment Assistance (PUA) ,
Pandemic Unemployment Emergency Compensation (PUEC) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans ,
Tax Credits ,
U.S. Treasury
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
6/30/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Distributors ,
EBITDA ,
Economic Injury Disaster Loans ,
Eligibility ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Reserve ,
Interim Final Rules (IFR) ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Manufacturers ,
Midsize and Large Business Loans ,
Net Operating Losses ,
Pandemic Unemployment Assistance (PUA) ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Retailers ,
SBA ,
Small Business ,
Small Business Loans ,
Tax Credits ,
U.S. Treasury
On May 18, 2020, and May 26, 2020, Schwabe published two articles about the Paycheck Protection Program (“PPP”) Loan Forgiveness Application dated May 2020. On June 16, 2020, in light of the changes from the Paycheck...more
6/26/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
Safe Harbors ,
SBA ,
Small Business Loans ,
Updated Forms
On June 17, 2020, the SBA issued yet another Interim Final Rule (the “IFR”) (SBA-2020-0037) conforming two previously-issued rules to the recently-enacted Paycheck Protection Program Flexibility Act (the “PPPFA”). Those...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
6/21/2020
/ Borrowers ,
CARES Act ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
Safe Harbors ,
SBA ,
Tax Credits ,
Tax Deferral ,
Time Extensions
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
On May 18, 2020, and May 26, 2020, Schwabe published two articles about the Paycheck Protection Program (“PPP”) Loan Forgiveness Application dated May 2020. On June 16, 2020, in light of the changes from the Paycheck...more
On June 10, 2020, and as revised on June 11, 2020, the Small Business Administration (SBA) issued an Interim Final Rule (IFR) (SBA-2020-0035) entitled Business Loan Program Temporary Changes; Paycheck Protection Program —...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more