On January 6, 2020, the Small Business Administration (“SBA”) issued its much anticipated Interim Final Rules (“IFR”) under the $2.3 trillion coronavirus relief and government funding act, the Economic Aid to Hard-Hit Small...more
On December 27, 2020, President Trump signed into law the $2.3 trillion coronavirus relief and government funding bill. In addition to other provisions, the law specifically adds $284 billion to the already successful...more
The Federal Reserve Board (the “Fed”) recently released additional changes relating to the expansion of its Main Street Lending Program (the “Main Street Program”), which originally targeted small and medium-sized for-profit...more
While the novel coronavirus (COVID-19) continues to disrupt the global economy, it is also causing the number of disputes over pending mergers and acquisitions transactions to rise....more
As the Federal Reserve (the “Fed”) prepares to launch its Main Street Lending Program (the “Main Street Program”), it continues to refine program details and guidance, including based on feedback received from US banks and...more
6/11/2020
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The Federal Reserve Bank of Boston (Fed) recently issued updated FAQs, form agreements and instructions for the Main Street Lending Program (MSLP). The MSLP was established pursuant to the Coronavirus Aid, Relief, and...more
On May 27, 2020, the Federal Reserve Bank of Boston issued a trove of additional details, instructions and documentation for borrowers and lenders regarding the Federal Reserve Board’s (the “Fed”) Main Street Lending Program...more
On May 12, 2020, the Board of Governors of Federal Reserve System (the “Fed”) published a revised term sheet for the Term-Asset Backed Securities Loan Facility (the “TALF”)...more
The Federal Reserve Bank of New York (“NY Fed”) published additional guidance for the Primary Market Corporate Credit Facility (“PMCCF”) and the Secondary Market Corporate Credit Facility (“SMCCF”, and, jointly, the...more
On April 30, 2020, following a period of public comment, the Federal Reserve Board (“Fed”) published additional guidance and revisions to its Main Street Lending Program (the “Main Street Program”), expanding the program’s...more
Seyfarth is actively monitoring all aspects of federal legislation impacting our corporate clients based on COVID-19 business stimulus funding. We expect there to be rolling updates to these provisions based on programs yet...more
As a result of the recent unprecedented outbreak of the novel coronavirus (COVID-19), dealmakers and their advisors have yet another set of issues to address in connection with pending and future M&A transactions. While the...more
Background -
On March 12, 2020, in response to President Trump’s address to the nation and the signing of the Coronavirus Preparedness and Response Supplemental Appropriations Act (the “Act”), the Small Business...more
With considerable adverse impact to the global economy thus far, the pandemic of SARS-CoV-2, which causes the novel coronavirus disease called COVID-19 (COVID-19) is sending businesses world-wide, big and small, and their...more