The Paycheck Protection Program (PPP) of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was expanded by the Paycheck Protection & Health Care Enhancement Act, provides more than $650 billion...more
10/29/2020
/ Accountants ,
Banking Sector ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Fees ,
Financial Institutions ,
Lenders ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program and Health Care Enhancement Act ,
SBA
Under the Paycheck Protection Program (PPP), borrowers can seek loan forgiveness of the full principal amount of loans as early as eight weeks after disbursement of the loan proceeds. On May 22, 2020, the U.S. Small Business...more
5/31/2020
/ Applications ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
FTEs ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Popular ,
Safe Harbors ,
SBA ,
Small Business
On April 30, the Federal Reserve announced substantial changes to the initial terms of its Main Street Lending Program originally released on April 9, 2020:
After receiving over 2,200 comment letters and consulting with...more
5/5/2020
/ Borrowers ,
CARES Act ,
Commercially Reasonable Efforts ,
Coronavirus/COVID-19 ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
SBA ,
SPVs ,
Term Sheets ,
U.S. Treasury