On May 13, 2020, the Department of the Treasury and the Small Business Administration (“SBA”) released guidance on how SBA will review a borrower’s required certification that “[c]urrent economic uncertainty makes this loan...more
On May 4, 2020, the Federal Reserve Bank of New York (“the Fed”) released Frequently Asked Questions (“FAQ”) regarding the previously announced Primary Market Corporate Credit Facility (“PMCCF”) and the Secondary Market...more
On April 30, 2020, the Federal Reserve (the “Fed”) announced an expansion of the scope of its previously announced Main Street New Loan Facility and Main Street Expanded Loan Facility and provided additional guidance in the...more
Updated April 3, 2020 On April 2, 2020, the Small Business Administration (the “SBA”) issued an Interim Final Rule (the “Rule”) announcing the implementation of the Paycheck Protection Program (“PPP”) of the Coronavirus Aid,...more
Congress is imminently expected to approve a $2.2 trillion stimulus package known as “The Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” to provide emergency assistance to deal with the 2020 novel...more
3/30/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief ,
Unemployment Insurance