On July 29, 2021, the Department of the Treasury published updates to its Paycheck Protection Program FAQs. The updates come in response to the Small Business Administration’s (SBA) decision to discontinue the use of its Loan...more
8/2/2021
/ CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
Federal Loans ,
Good Faith ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Questionnaires ,
SBA ,
SBA Lending Programs ,
Small Business
The Small Business Administration (SBA) and Treasury Department have issued a new interim final rule, as well as a revised Paycheck Protection Program (PPP) loan forgiveness application and instructions, and an “EZ” loan...more
On June 8, 2020, the Federal Reserve Board (the Board) announced changes to certain primary loan terms for the Main Street Lending Program. These changes are intended to allow more small and medium-sized businesses to...more
Late on June 10, 2020, the Small Business Administration (SBA) and Treasury Department issued the 17th “interim final rule,” providing the initial regulations to implement the Paycheck Protection Program Flexibility Act...more
6/11/2020
/ Borrowers ,
CARES Act ,
Certifications ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Popular ,
SBA ,
Small Business ,
Small Business Loans ,
U.S. Treasury
Last week, the Federal Reserve updated the terms of its Main Street Lending Program (MSLP) with its first set of guidance to expand the scope of available loan options and the pool of eligible borrowers. You can find our...more
The Paycheck Protection Program will enable eligible nonprofit organizations that have been adversely affected by the COVID-19 pandemic to obtain funds to cover payroll, rent, interest, and utilities. For further information...more
4/14/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Employee Retention ,
Federal Loans ,
Financial Stimulus ,
Large Employer ,
Nonprofits ,
Payroll Taxes ,
Relief Measures ,
Religious Institutions ,
SBA ,
Small Business ,
Tax Relief
In response to unprecedented health care demands and economic conditions caused by the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted on Friday, March 27, 2020. The Act...more
4/14/2020
/ CARES Act ,
Comment Period ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Financial Stimulus ,
Healthcare Provider Corporations ,
Healthcare Workers ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Relief Measures ,
SBA ,
Small Business ,
Special Purpose Vehicles ,
Term Sheets ,
U.S. Treasury
The CARES Act adds $100 billion to the “Public Health and Social Services Emergency Fund” to reimburse “eligible health care providers” for “health care-related expenses or lost revenues that are attributable to Coronavirus.”...more
4/14/2020
/ Banks ,
Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Health Care Providers ,
Healthcare ,
Lenders ,
Lending ,
Liquidity ,
Medicaid ,
Medicare ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tax Relief ,
Unemployment Insurance
The CARES Act provides $350 billion to the Paycheck Protection Program to allow the Small Business Administration (SBA) to guarantee 100% loans (with interest rates not to exceed 4%) made by local SBA preferred lenders to...more
4/14/2020
/ Affiliated-Business Arrangements ,
Affiliates ,
Board of Directors ,
Business Interruption ,
CARES Act ,
Core Funding Ratio (CFR) ,
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Economic Injury Disaster Loans ,
Electronic Records ,
Employee Retention ,
Executive Compensation ,
Federal Loans ,
Financial Stimulus ,
Health Insurance ,
Lenders ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Shareholders ,
Shelter-In-Place ,
Small Business ,
Social Distancing ,
Stocks ,
Tax Relief
The CARES Act establishes a $500 billion loan program accessible by cities, states, and businesses, while also providing for more than $250 billion in direct funding to state and local governments. The majority of the direct...more
4/14/2020
/ Banks ,
Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Federal Reserve ,
Financial Stimulus ,
Health Care Providers ,
Healthcare ,
Lenders ,
Lending ,
Liquidity ,
Medicaid ,
Medicare ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
State and Local Government ,
Tax Relief ,
Unemployment Insurance
Late on April 6, 2020, the Department of the Treasury and the Small Business Administration (SBA) jointly issued additional guidance in the form of FAQs addressing key points under the Paycheck Protection Program (Program)....more
4/7/2020
/ Affiliated-Business Arrangements ,
Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Employee Retention ,
Executive Compensation ,
Federal Loans ,
Financial Stimulus ,
Health Insurance ,
Lenders ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Shareholders ,
Small Business ,
Stocks ,
Tax Relief
On March 31, 2020, the Treasury Department and Small Business Administration (SBA) released guidance for prospective borrowers and lenders under the Paycheck Protection Program (the “Program”) created by the Coronavirus Aid,...more
Paycheck Protection Program Loans and Medicare Advance Payments -
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was enacted in the wake of the COVID-19 outbreak. The Cares Act provides...more
4/1/2020
/ Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Federal Loans ,
Financial Stimulus ,
Health Care Providers ,
Lenders ,
Medicaid ,
Medicare ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Tax Relief ,
Unemployment Insurance