Revised term sheets and FAQs issued by the Federal Reserve Board expand the program and provide additional guidance for borrowers affected by the COVID-19 crisis. A chart outlining the updated term sheets can be found in the...more
On April 24, 2020, the US Department of the Treasury released new guidance to assist businesses with calculating the maximum Paycheck Protection Program (PPP) loan amount to which they are entitled.
The guidance...more
Below is a summary of the Main Street New Loan Facility and the Main Street Expanded Loan Facility, details of which were released by the Federal Reserve this morning. Arent Fox will continue to update, and expand on, this...more
On April 3, the Small Business Administration issued two additional rule updates affecting the Paycheck Protection Program. First, it provided a summary of the affiliation rules to be used by applicants in connection with the...more