While Dec. 31, 2021 was a key LIBOR transition deadline for many lenders, the transition has continued in 2022 with alternative lenders in particular continuing to use the LIBOR tenors that will remain available until June...more
Episode eight of McGuireWoods’ video series “Healthcare Headlines” is now available. Hosted by McGuireWoods partner Amber McGraw Walsh, a member of the firm’s nationally recognized Healthcare Department, this episode welcomes...more
On Dec. 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021, an omnibus stimulus and budget act that includes the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (HHSB Act). The...more
The Main Street Lending Program (MSLP) is scheduled to terminate on Dec. 31, 2020. The Federal Reserve recently issued additional guidance in anticipation of winding down the program....more
The Federal Reserve recently adjusted the terms of the Main Street Lending Program (MSLP) to better target support to smaller businesses....more
On Oct. 2, 2020, the Small Business Administration (SBA) issued SBA Procedural Notice Control No. 5000-20057 establishing requirements under the Paycheck Protection Program (PPP) for PPP borrowers considering a change in...more
The Federal Reserve recently expanded access to the Main Street Lending Program (MSLP) by fully opening the program to nonprofit organizations (NPOs) and accepting submissions of multiborrower loans. The Federal Reserve also...more
The Federal Reserve recently extended the Main Street Lending Program (MSLP) through the end of 2020 and expanded eligibility for nonprofit organizations (NPOs).
The Federal Reserve established the MSLP to support lending...more
On July 15, 2020, the Federal Reserve released updated guidance for the Main Street Lending Program (MSLP). That updated guidance further modifies or clarifies certain requirements of the program, following its launch on July...more
The CARES Act established the Paycheck Protection Program as a business loan program under the Small Business Act to provide liquidity to eligible businesses impacted by the coronavirus pandemic. A key feature of the program...more
On July 6, 2020, the Federal Reserve Bank of Boston announced that it is now ready to purchase 95 percent participations in eligible loans submitted by registered lenders under the Main Street Lending Program (MSLP)....more
On June 8, 2020, the Federal Reserve released updated term sheets and guidance for the Main Street Lending Program (MSLP).
The MSLP is designed to provide support to small and medium-sized businesses and their employees...more
On May 27, 2020, the Federal Reserve Bank of Boston released updated guidance and new documents for the Main Street Lending Program (MSLP).
The MSLP is designed to provide support to small and medium-sized businesses and...more
The CARES Act established the Paycheck Protection Program as a business loan program under the Small Business Act to provide liquidity to eligible businesses impacted by the coronavirus pandemic. A key feature of the program...more
In an April 30, 2020, press release, the Federal Reserve announced changes to the previously announced Main Street Lending Program, including the following:
creating a third facility, the Main Street Priority Loan Facility...more
Given the current economic conditions relating to COVID-19, it is important that lenders conduct an internal review relating to potential pre-emptive revolver draws and take appropriate protective action to avoid making...more
Maureen Spivack enjoyed a 30-year healthcare investment banking career before joining New State Capital Partners, a middle-market PE fund, as its senior healthcare industry partner. During her investment banking career,...more
Rena Clark is a managing partner for Laurel Oak Capital Partners, an independent sponsor making investments in businesses that provide industrial products and services. Clark is a former partner with GenNx360 Capital Partners...more