The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) created the U.S. Small Business Administration's (SBA) Paycheck Protection Program (PPP) to provide relief to small businesses affected by COVID-19 and to...more
On June 3, 2020, Congress sent bipartisan legislation to modify the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) to President Donald Trump for his signature. The PPP is a popular loan program...more
As previously reported, in response to the coronavirus (COVID-19) pandemic, the Federal Reserve and the U.S. Department of the Treasury unveiled two lending programs – the Main Street New Loan Facility (MSNLF) and the Main...more
The president signed into law on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), providing $2.2 trillion of emergency appropriations. The CARES Act provides a wide range of economic relief...more
4/28/2020
/ CARES Act ,
Congressional Oversight ,
Coronavirus/COVID-19 ,
False Claims Act (FCA) ,
GAO ,
Government Investigations ,
Inspector General ,
Oversight Committee ,
Paycheck Protection Program (PPP) ,
Regulatory Oversight ,
SBA Lending Programs
The CARES Act included language permitting the Federal Reserve Board to establish a "Main Street Lending Program," or other similar program or facility to support lending to small and mid-sized businesses. Toward this end,...more
4/22/2020
/ CARES Act ,
Comment Period ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Financial Stimulus ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Relief Measures ,
Special Purpose Vehicles ,
Term Sheets ,
U.S. Treasury
Congress has completed three rounds of legislation in response to the COVID-19 pandemic and resulting economic crisis. These include an $8.3 billion supplemental appropriation (round 1) signed into law on March 6, as well as...more
President Donald Trump on March 27, 2020, signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), providing $2.2 trillion of emergency appropriations. The CARES Act provides a wide range of...more