This yearly report provides a summary of some of the significant changes and developments that occurred in the past year in the hedge fund and private equity spaces, as well as certain recommended practices that investment...more
The Consolidated Appropriations Act, 2021 (the “CAA”), which provides $900 billion in new COVID-19 relief funding, was signed into law on December 27, 2020. Section 324 of Title III of the CAA, the Economic Aid to Hard-Hit...more
2/8/2021
/ Artists ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Entertainment Industry ,
Entertainment Venues ,
Federal Grants ,
Movie Theaters ,
Museums ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA
Summary of the Corporate Transparency Act under the National Defense Authorization Act for Fiscal Year 2021 -
On January 1, 2021, the Corporate Transparency Act (the “CTA”), which is part of the National Defense...more
The Consolidated Appropriations Act, 2021 (the “CAA”), which provides $900 billion in new COVID-19 relief funding, was signed into law on December 27, 2020. Section 324 of Title III of the CAA, the Economic Aid to Hard-Hit...more
1/5/2021
/ Artists ,
Consolidated Appropriations Act (CAA) ,
Entertainment Industry ,
Entertainment Venues ,
Grants ,
Motion Picture Industry ,
Museums ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business
On October 22, 2020, the Federal Reserve Bank of New York (“New York Fed”) released an amended form of Master Loan and Security Agreement (the “MLSA”), which governs loans issued under its Term Asset-Backed Loan Facility...more
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business Administration (the “SBA”) and the U.S Treasury Department (“Treasury”) have issued a...more
10/7/2020
/ CARES Act ,
Interest Rates ,
Loan Forgiveness ,
Main Street Lending Programs ,
Mergers ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
SBA ,
Small Business Loans ,
Term Sheets ,
U.S. Treasury
Fed Releases Updated Frequently Asked Questions for Business and Nonprofit Facilities and Instructions for Lender Required Documentation -
On September 18, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”)...more
9/28/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
EBITDA ,
Eligibility ,
Federal Reserve ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Nonprofits ,
SBA ,
Small Business ,
Special Purpose Vehicles ,
Term Sheets
On August 24, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) published an updated set of Frequently Asked Questions for the Business Facilities (defined below) and an updated set of Frequently Asked Questions for...more
On May 20, 2020, the Federal Reserve Bank of New York (the “New York Fed”) released the form of Master Loan and Security Agreement (“MLSA”) that will govern loans issued under its Term Asset-Backed Loan Facility (“TALF”) and...more
8/31/2020
/ Asset-Backed Securities ,
Borrowers ,
Coronavirus/COVID-19 ,
Due Diligence ,
Federal Loans ,
Federal Reserve ,
FinCEN ,
Issuer Eligibility Criteria ,
Master Loan and Security Agreement (MLSA) ,
SBA ,
Securities Exchange Act ,
Special Purpose Vehicles ,
Term Asset-Backed Securities Loan Facility (TALF) ,
Term Sheets
On August 6, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) published an updated set of Frequently Asked Questions for the Nonprofit Facilities (defined below) (“Nonprofit FAQs”) which are part of the Main Street...more
8/18/2020
/ Borrowers ,
CARES Act ,
Eligibility ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Nonprofits ,
SBA ,
Special Purpose Vehicles ,
Term Sheets
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business Administration (the “SBA”) and the U.S Treasury Department (“Treasury”) have issued a...more
8/12/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
SBA ,
Small Business ,
Small Business Loans
Originally published on May 4, 2020. Last updated as of July 20, 2020.
On July 17, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) released updated term sheets for two new loan facilities: the Main Street...more
7/21/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Relief Measures ,
SBA ,
Small Business ,
Term Sheets
Originally published on April 14, 2020. Last updated as of July 14, 2020.
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business...more
7/16/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Financial Stimulus ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program and Health Care Enhancement Act ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Small Business Loans
Originally published on May 4, 2020. Last updated as of July 10, 2020.
The Federal Reserve Bank of Boston recently published information in anticipation of the launch of the Main Street Lending Program under the CARES Act,...more
7/13/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
EBITDA ,
Federal Reserve ,
Lenders ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
New Guidance ,
Paycheck Protection Program (PPP) ,
SBA ,
Small Business Loans ,
Special Purpose Vehicles
Originally published on May 6, 2020. Last updated as of June 29, 2020.
On June 29, 2020, the Federal Reserve Bank of New York (the “New York Fed”) published an updated set of Frequently Asked Questions (“FAQs”) concerning...more
Originally published on April 14, 2020. Last updated as of June 24, 2020.
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business...more
Originally published on May 6, 2020. Last updated as of June 22, 2020.
On June 15, 2020, the Federal Reserve Bank of New York (the “New York Fed”) published an updated set of Frequently Asked Questions (“FAQs”) concerning...more
6/24/2020
/ CARES Act ,
Certification Requirements ,
Coronavirus/COVID-19 ,
Corporate Bonds ,
ETFs ,
Federal Reserve ,
Issuer Eligibility Criteria ,
Primary Market Corporate Credit Facility (PMCCF) ,
Secondary Market Corporate Credit Facility (SMCCF) ,
Secondary Markets ,
Term Sheets
UPDATE: Fed Proposes Expansion of Program to Cover Nonprofits -
On June 15, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) announced it was seeking public feedback on its proposal to expand the Main Street...more
6/22/2020
/ Borrowers ,
CARES Act ,
Eligibility ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Nonprofits ,
SBA ,
Special Purpose Vehicles ,
Term Sheets
Originally published on April 14, 2020. Last updated as of June 18, 2020.
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business...more
6/19/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Safe Harbors ,
SBA ,
Small Business ,
Small Business Loans ,
Updated Forms
UPDATE: Where is Main Street?—Fed Provides Guidance on the Main Street Lending Program -
On June 11, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) released updated information for potential lenders and...more
6/15/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
EBITDA ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
New Guidance ,
SBA ,
Small Business ,
Term Sheets
Originally published on April 14, 2020. Last updated as of June 11, 2020.
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business...more
On May 20, 2020, the Federal Reserve Bank of New York (the "New York Fed") released the form of Master Loan and Security Agreement ("MLSA") that will govern loans issued under its Term Asset-Backed Loan Facility ("TALF") and...more
6/11/2020
/ Asset-Backed Securities ,
CMBS ,
Collateralized Loan Obligations ,
Coronavirus/COVID-19 ,
Eligibility Determination ,
Federal Reserve ,
FinCEN ,
Master Loan and Security Agreement (MLSA) ,
SBA ,
Term Asset-Backed Securities Loan Facility (TALF) ,
Term Sheets
UPDATE: Where is Main Street?—Fed Provides Guidance on the Main Street Lending Program -
On June 8, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) released information for potential lenders and borrowers in...more
6/11/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
New Guidance ,
SBA ,
Small Business ,
Special Purpose Vehicles ,
Term Sheets
Originally published on April 14, 2020. Last updated as of June 5, 2020.
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business...more
Originally published on April 14, 2020. Last updated as of the evening of May 25, 2020.
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small...more