On Dec. 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, an omnibus stimulus and budget act that includes the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (HHSB Act). The...more
The Federal Reserve recently expanded access to the Main Street Lending Program (MSLP) by fully opening the program to nonprofit organizations (NPOs) and accepting submissions of multiborrower loans. The Federal Reserve also...more
The CARES Act established the Paycheck Protection Program as a business loan program under the Small Business Act to provide liquidity to eligible businesses impacted by the coronavirus pandemic. A key feature of the program...more
The CARES Act established the Paycheck Protection Program as a business loan program under the Small Business Act to provide liquidity to eligible businesses impacted by the coronavirus pandemic. A key feature of the program...more
In an April 30, 2020, press release, the Federal Reserve announced changes to the previously announced Main Street Lending Program, including the following:
creating a third facility, the Main Street Priority Loan Facility...more