On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”). The Flexibility Act amends key provisions of the Paycheck Protection Program (“PPP”)...more
The Board of Governors of the Federal Reserve System (the Fed) recently released terms for its Main Street Lending Program (MSLP), a program authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)...more
5/7/2020
/ Banks ,
CARES Act ,
Credit Unions ,
EBITDA ,
Federal Reserve ,
Federal Savings Associations ,
FFIEC ,
Loans ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Paycheck Protection Program (PPP) ,
Small Business
As we have previously observed, on April 23, 2020, the U.S. Small Business Administration (SBA) issued guidance—and a warning—to Paycheck Protection Program (PPP) loan applicants and borrowers related to the certification of...more