A memo issued yesterday by the acting director of the Office of Management and Budget directed federal agencies to pause financial assistance payments or reimbursements, effective at 5 p.m. today. However, this afternoon, a...more
Were you paying attention to the recent news about the Federal Trade Commission’s (FTC) rule banning noncompetition clauses (the Rule)? You may have missed this critical point the FTC included as part of the rollout of that...more
Yesterday, the Tennessee Senate and House each passed the Tennessee COVID-19 Recovery Act (Act), which now heads to Gov. Lee’s desk for signature. The Act provides Tennessee businesses, nonprofit organizations, schools,...more
Gov. Lee announced yesterday (July 21) that the Financial Stimulus Accountability Group – a bi-partisan group of Tennessee General Assembly members, Lt. Gov. Randy McNally, and Finance and Administration Commissioner Butch...more
The Federal Reserve Board (FRB) has released long-awaited term sheets for loans to nonprofit organizations under the Main Street Lending Program (MSLP). There are two types of nonprofit loans — the Nonprofit Organization New...more
Last week, the Federal Reserve updated the terms of its Main Street Lending Program (MSLP) with its first set of guidance to expand the scope of available loan options and the pool of eligible borrowers. You can find our...more
The Paycheck Protection Program will enable eligible nonprofit organizations that have been adversely affected by the COVID-19 pandemic to obtain funds to cover payroll, rent, interest, and utilities. For further information...more
4/14/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Employee Retention ,
Federal Loans ,
Financial Stimulus ,
Large Employer ,
Nonprofits ,
Payroll Taxes ,
Relief Measures ,
Religious Institutions ,
SBA ,
Small Business ,
Tax Relief
The CARES Act adds $100 billion to the “Public Health and Social Services Emergency Fund” to reimburse “eligible health care providers” for “health care-related expenses or lost revenues that are attributable to Coronavirus.”...more
4/14/2020
/ Banks ,
Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Health Care Providers ,
Healthcare ,
Lenders ,
Lending ,
Liquidity ,
Medicaid ,
Medicare ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tax Relief ,
Unemployment Insurance
The CARES Act establishes a $500 billion loan program accessible by cities, states, and businesses, while also providing for more than $250 billion in direct funding to state and local governments. The majority of the direct...more
4/14/2020
/ Banks ,
Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Health Care Providers ,
Healthcare ,
Lenders ,
Lending ,
Liquidity ,
Medicaid ,
Medicare ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
State and Local Government ,
Tax Relief ,
Unemployment Insurance