Effective June 20, 2020, the Federal Reserve updated its Term Sheet and Frequently Asked Questions (the “Updated FAQs”) describing the Main Street Lending Program (the “Program”) to expand the number of businesses that may be...more
In response to public feedback to the initial terms of the Main Street Lending Program (the “Program”), the Federal Reserve Board announced on April 30, 2020, an expansion of the loan options available to businesses and an...more
Payroll Protection Program loans may not be sufficient to bail out cash-strapped hotel operators. The current limits hold that PPP loans will only fund payroll and other expenses for up to eight weeks (depending on the loan...more