On July 6, 2020, the Federal Reserve Bank of Boston announced that the Main Street Lending Program is now fully operational. This means that lenders who registered for the program can administer, and borrowers can apply for,...more
On July 4, 2020, President Trump signed into law a bill extending the deadline for small businesses to apply for a Paycheck Protection Program (PPP) loan to August 8, 2020. The original deadline to apply for a PPP loan had...more
On April 23, 2020, the SBA by way of FAQ #31, provided meaningful direction concerning the PPP loan certification as to “necessity.” The SBA clarified that PPP “borrowers must make this certification in good faith, taking...more
With lenders telling landlords to work with their tenants through the state-wide shutdown of businesses, and many tenants demanding rental relief, landlords should consider the following before amending:
Tenant’s...more
On April 2, 2020, the Treasury Department and Small Business Administration (SBA) unveiled an interim final rule for the Payroll Protection Program (PPP) and a revised application form.
The terms of the loans have changed to...more