The Federal Reserve recently adjusted the terms of the Main Street Lending Program (MSLP) to better target support to smaller businesses....more
On Oct. 2, 2020, the Small Business Administration (SBA) issued SBA Procedural Notice Control No. 5000-20057 establishing requirements under the Paycheck Protection Program (PPP) for PPP borrowers considering a change in...more
On Sept. 15, 2020, the Small Business Investor Alliance announced that $685,450,000 of Small Business Investment Companies (SBIC) debentures were priced at an interest rate of 1.034 percent — the lowest interest rate of SBIC...more
On May 28, 2020, the House of Representatives passed H.R. 7010, which effects a number of amendments to the CARES Act impacting the Paycheck Protection Program (PPP) term and forgiveness provisions. Late on June 3, 2020, the...more
Many government entities have already begun review and enforcement actions related to the Coronavirus Aid, Relief, and Economic Security (CARES) Act Paycheck Protection Program (PPP) loans. The Small Business Administration...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 Paycheck Protection Program established under the CARES Act provides eligible businesses — including for-profit business concerns, 501(c)(3) nonprofits, 5019(c)(19) veterans organizations and Tribal concerns (collectively...more
McGuireWoods is monitoring the evolving availability of government-sponsored emergency loan programs for U.S. businesses during the COVID-19 pandemic, including federal programs available from the U.S. Small Business...more
3/27/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Investment Funds ,
Operators of Essential Services ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
On March 16, 2020, the Small Business Investor Alliance announced that $1,007,335,000 of Small Business Investment Companies (SBIC) debentures were priced at an interest rate of 2.078 percent....more