Certain foreign-owned or controlled U.S. businesses are eligible to apply for potentially forgivable loans under the second round of the Paycheck Protection Program ("PPP") included in the recently enacted Economic Aid to...more
On April 9, 2020, the Federal Reserve, acting under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and Section 13(3) of the Federal Reserve Act (12 USC §344), announced the creation of a new “Main Street...more
4/20/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Financial Stimulus ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Relief Measures ,
SBA ,
Special Purpose Vehicles ,
Term Sheets ,
U.S. Treasury
The Coronavirus Aid, Relief, and Economic Security Act (also referred to as the CARES Act) recently adopted by the US federal government provides for two basic assistance programs available to US subsidiaries of foreign...more
The U.S. Small Business Administration ("SBA") has issued new guidance on the new Paycheck Protection Program ("PPP"), which currently makes loans available to applicants that employ fewer than 500 people (or higher amount...more