On January 6, 2021, the SBA issued more detailed guidance on the implementation of Paycheck Protection Program (PPP) round 2. The biggest upshot from the SBA’s releases are that except for a limited set of changes (which are...more
Although not yet signed into law by President Trump, the house and senate have passed a second stimulus bill that provides for a second round of PPP loans up to an aggregate amount of $284 billion. The second round of PPP...more
On April 30, 2020, the Federal Reserve announced changes to the Main Street Lending Program in response to public comment. The program supports small and mid-sized businesses through the COVID-19 pandemic by creating a...more
The Main Street Lending Program is being implemented by the Federal Reserve using two different credit facilities, the Main Street New Loan Facility (the “New Facility”) and the Main Street Expanded Loan Facility (the...more
The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends to provide timely additional guidance to address borrower and lender questions concerning the implementation of the...more
In true government fashion, on April 2, the Small Business Administration (SBA) released updated guidance for CARES Act Loans. Below is a bullet point summary of the relevant changes...more
The CARES Act authorizes the Small Business Administration (“SBA”) to fully guarantee an additional $349 Billion in Section 7(a) loans to small businesses affected by COVID-19.
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