The Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act), which was included in the Consolidated Appropriations Act, 2021, was signed into law on Dec. 27, 2020. The U.S. Small Business...more
President Donald Trump signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act), which was included in the Consolidated Appropriations Act, 2021, on Dec. 27, 2020. In turn, the U.S....more
1/13/2021
/ 501(c)(3) ,
CARES Act ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Economic Aid Act ,
Entertainment Venues ,
Interest Rates ,
Interim Final Rules (IFR) ,
Loan Forgiveness ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA Lending Programs
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 original intent of Congress was that the Paycheck Protection Program (PPP) would serve to disburse federal funds into the hands of many of the nation's employees who were either furloughed or soon-to-be furloughed as a...more
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
The Federal Reserve Board and U.S. Department of the Treasury Secretary Steven Mnuchin on April 9, 2020, announced new and expanded measures aimed at providing up to $2.3 trillion in relief to U.S. businesses, states and...more