On March 11, 2021, President Joseph Biden signed into law the American Rescue Plan Act of 2021 (ARP Act), a $1.9 trillion economic recovery package. This follows the recent adoption of the Consolidated Appropriations Act of...more
On December 28, 2020, President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the Act included revisions and additions to the Paycheck Protection Program (PPP). The new PPP will (1) accept...more
1/6/2021
/ Borrowers ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business ,
Tax Credits
On June 8, 2020, the Federal Reserve Board (Board) announced an expansion of the scope and eligibility for its Main Street Lending Program. The Board also issued an updated FAQ for the program on June 9, 2020.
Under the...more
6/16/2020
/ Borrowers ,
CARES Act ,
EBITDA ,
Economic Injury Disaster Loans ,
Eligibility ,
Federal Reserve ,
Libor ,
Loan Forgiveness ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Paycheck Protection Program (PPP) ,
Small Business Loans ,
Special Purpose Vehicles
The CARES Act established the Paycheck Protection Program ("PPP" or "Program"), which provides nearly $350 billion in forgivable loans designed to keep workers employed during the COVID-19 crisis. In this alert, we are...more
4/15/2020
/ Borrowers ,
Economic Injury Disaster Loans ,
Lenders ,
Loan Agreements ,
Loan Applications ,
Loan Forgiveness ,
Main Street Lending Programs ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Popular ,
SBA
The COVID-19 crisis is having a very substantial impact on many businesses. On a daily basis, they are struggling to continue their operations while facing mounting economic losses and ongoing cash flow shortfalls. A number...more
4/2/2020
/ Annual Meeting ,
Board of Directors ,
Business Closures ,
Business Interruption ,
Commercial Insurance Policies ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Financial Distress ,
Force Majeure Clause ,
Line of Credit ,
Loan Agreements ,
Shareholder Meetings ,
Sick Employees ,
Sick Pay ,
Small Business Loans ,
State of Emergency ,
Supply Chain ,
Virtual Meetings ,
Workplace Safety