On January 19, 2021, the U.S. Small Business Administration (SBA) published its 28th Interim Final Rule (Forgiveness IFR) covering the loan forgiveness requirements and review procedures for the Paycheck Protection Program,...more
On January 6, 2020, the SBA published its 26th Interim Final Rule (the First Draw PPP IFR) and 27th Interim Final Rule (the Second Draw PPP IFR)[1] with respect to the Paycheck Protection Program (PPP), as reauthorized and...more
1/21/2021
/ Applications ,
Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
Small Business ,
Small Business Loans
[Update: This article has been updated since its initial publication on December 31, 2020.]
On December 27, 2020, President Donald Trump signed into law the Consolidated Appropriations Act, 2021 (the 2021 Consolidated...more
1/4/2021
/ CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Loan Applications ,
Loan Forgiveness ,
New Legislation ,
Paycheck Protection Program (PPP) ,
Popular ,
SBA ,
Small Business ,
Trump Administration
The Main Street Lending Program, intended to provide credit support to small and medium sized businesses, became operational on July 6, 2020.It includes many borrower-favorable economic terms, including a 5-year term, a low...more
On April 30, 2020 the Federal Reserve released new term sheets for the Main Street Loan Program, which is a $600 billion loan program, that will include $75 billion capitalized by the Treasury Department under the $454...more
The US Treasury Department is accepting CARES Act Title IV loan applications from national security businesses to provide liquidity to offset covered losses, which include losses incurred directly or indirectly as a result of...more
On April 9, 2020, the Federal Reserve took additional actions to provide up to $2.3 trillion in loans to support the economy. This blog focuses on the Main Street Lending Program, which is a $600 billion loan program, that...more
Major economic stabilization funds are made available to U.S. businesses (including nonprofits), states and municipalities under Title IV of the CARES Act. Title IV itself is titled the “Coronavirus Economic Stabilization Act...more