The Boston Federal Reserve Board (Fed) announced that the Main Street Lending Program (MSLP) is fully operational. Approved lenders across the country are now accepting MSLP applications for loans ranging from $250,000 to...more
On Friday, June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 was signed into law by President Trump, after being approved by both the U.S. Senate and U.S. House of Representatives. The new legislation...more
UPDATED MAY 13, 2020: The FAQs were just updated to include a new FAQ #46 regarding the good faith ‘economic necessity’ certification. This should give many borrowers more comfort in moving forward with their loans....more
The CARES Act provides several programs to assist small businesses impacted by the COVID-19 pandemic, including favorable loan terms, significant temporary tax breaks, and employee retention credits. Below are key terms of...more
The Federal Reserve Board (Fed) released this morning the first details of its new Main Street Lending Program, which was authorized in the CARES Act. This was one of nine lending programs simultaneously announced by the Fed,...more
The COVID-19 novel coronavirus pandemic (“COVID-19”) threatens to devastate businesses worldwide, and U.S. small businesses are no stranger to this threat. The CARES Act—a $2 trillion stimulus package—may provide some relief...more