While debates in Congress continue regarding extending or providing additional COVID-19 relief legislation, the Small Business Administration (SBA), U.S. Department of the Treasury (Treasury), and lenders under the Paycheck...more
The Small Business Administration (SBA), on June 16, 2020, released new loan forgiveness application forms and corresponding instructions for borrowers seeking forgiveness of their Paycheck Protection Program (PPP) loans. On...more
This update amends our prior publication on June 5, 2020, and contains new information based on additional guidance provided by the Federal Reserve on June 8, 2020.
Authorized under the Coronavirus Aid, Relief, and...more
6/11/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Eligibility ,
Federal Funding ,
Federal Reserve ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Midsize and Large Business Loans
This update amends our prior publication on May 4, 2020, titled Federal Reserve Announces Changes to Main Street Lending Program and contains new information based on additional guidance provided by the Federal Reserve on May...more
6/9/2020
/ CARES Act ,
Certification Requirements ,
EBITDA ,
Federal Reserve ,
FRB ,
Guidance Update ,
Lenders ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Midsize and Large Business Loans
The U.S. House of Representatives, on May 28, 2020, passed with bipartisan support H.R. 6886, referred to as the Paycheck Protection Program Flexibility Act of 2020. If passed by the U.S. Senate and signed into law, H.R. 6866...more
On May 15, 2020, the Small Business Administration (SBA) released an application for loan forgiveness under the Paycheck Protection Program (PPP). A copy of the forgiveness application can be found here. Businesses that...more