News & Analysis as of

Loans Relief Measures

Sheppard Mullin Richter & Hampton LLP

Update to: A Lifeline Amidst Turbulent Times: California Lawmakers Approve Emergency Loans for Struggling Hospitals

As an update to our previous post, on Monday, May 15, 2023, California Governor Gavin Newsom signed into law Assembly Bill 112 (“AB 112”), which is designed to provide critical relief to qualified struggling hospitals across...more

Cadwalader, Wickersham & Taft LLP

FRB Establishes Bank Term Funding Program to Aid Liquidity Availability

As we noted very briefly on Monday in our “Quick Take on a Sudden Change in the Banking Landscape,” among the various actions the government took Sunday evening to try to stabilize the banking market, the Federal Reserve...more

Goodwin

FAQ About Recent Bank Failures in the US

Goodwin on

What actions did the US government take on Sunday with respect to Silicon Valley Bank (SVB) and Signature Bank? On Sunday, March 12, the FDIC, the Federal Reserve, and the US Treasury Department announced that the US...more

Foley Hoag LLP

Department of the Treasury, Federal Reserve, and FDIC Issue Joint Statement

Foley Hoag LLP on

On Sunday, March 12, 2023, the Treasury Department, the Federal Reserve, and the FDIC issued a joint statement indicating that there has been an agreement to roll out emergency measures to protect depositors at SVB. The...more

Fenwick & West LLP

Silicon Valley Bank Closure: Important Updates for Corporate Banking Customers

Fenwick & West LLP on

Last Updated: Sunday, March 12, 2023, 5 p.m. PDT On Friday, March 10, 2023, Silicon Valley Bank (SVB) was closed by the California Department of Financial Protection & Innovation, The Federal Deposit Insurance Corporation...more

K&L Gates LLP

COVID-19: Washington State Resource Guide for Individuals Dealing with COVID Financial Impacts

K&L Gates LLP on

This guidebook is designed to serve as an interactive reference for individuals in Washington state looking for information and resources available to help with the financial impacts of COVID-19. It is not legal advice and...more

Schwabe, Williamson & Wyatt PC

10 Things to Know about Second Draw PPP Loans as Updated for the Economic Aid Act and the ARP Act - Update #5

On January 6, 2021, the Small Business Administration (the “SBA”) and the Department of Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second...more

Baker Donelson

The American Rescue Plan Provides Significant Debt Relief to Minority Farmers

Baker Donelson on

Socially disadvantaged farmers, including African American, Hispanic, Native American and Asian American farmers, will receive aid in the form of debt relief, grants, training and education as a part of the American Rescue...more

Davis Wright Tremaine LLP

COVID, Year Two: A Look at Mortgage Relief, Regulatory Scrutiny, and the Road Ahead

March 13, 2021, marked the one-year anniversary of President Trump's declaring COVID-19 a national emergency. Through the CARES Act, agency action and guidance, and various state laws and executive orders, governments across...more

Baker Donelson

Federal Funds for CDFIs and MDIs: Emergency Capital Investment Program (ECIP)

Baker Donelson on

The Consolidated Appropriations Act, 2021 (Act), signed into law on December 27, 2020, provides up to $9 billion to Community Development Financial Institutions (CDFIs) and minority depository institutions (MDIs). The Act...more

Morrison & Foerster LLP

COVID-19 Support Measures: What Should Directors Be Thinking About As These Ease?

As the UK Government’s COVID-19 support measures ease, there are a number of considerations that directors should be thinking about... ...more

Hutchison PLLC

Paycheck Protection Program 2.0: Second Draw Loans and Other Updates

Hutchison PLLC on

On December 27, 2020, the Economic Aid to Hard-Hit Small Business, Nonprofits and Venues Act (the “Act”) became law. The Act included $284 billion of additional funding under the Paycheck Protection Program (the “PPP”). The...more

Nelson Mullins Riley & Scarborough LLP

New Year, New COVID-19 Relief for Employers and Plan Sponsors (Part 2)

The Consolidated Appropriations Act, 2021, H.R. 133 (the “CAA”) signed into law by the President on Dec. 27, 2020 and a variety of IRS guidance issued in the first week of 2021 mean that employers entering the new year have...more

Wiley Rein LLP

PPP Loan Program Re-Opens

Wiley Rein LLP on

As we recently detailed, on January 6, 2021, the Small Business Administration (SBA) issued two Interim Final Rules (first rule and second rule) setting forth the regulations for the newly authorized round of PPP funding,...more

Baker Donelson

Paycheck Protection Program: A Second Round of Funding for Some New and Existing Borrowers; Other Changes to Benefit All Borrowers

Baker Donelson on

On December 27, 2020, President Trump signed the Consolidated Appropriations Act, 2021 (the "Appropriations Act"), which includes a new round of funding for certain qualifying, existing Paycheck Protection Program (PPP)...more

Wiley Rein LLP

New Round of PPP Funds Available

Wiley Rein LLP on

On December 27, 2020, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) became law. This act reinstated the Paycheck Protection Program (PPP) by (1) making a new round of PPP funds...more

Snell & Wilmer

New COVID-19 Relief Bill Adds PPP ‘Second Draw’ Loans and Modifications to Original PPP

Snell & Wilmer on

On December 27, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law. This Act makes available $284 billion for second draw loans under the Paycheck Protection Program (“PPP-2”) and also makes important...more

Buckingham, Doolittle & Burroughs, LLC

Get ready for Paycheck Protection Program Round 2: PPP Loans return in newest COVID-19 relief bill with added tax benefits and...

On December 21st, Congress passed a new COVID-19 relief bill titled the Consolidated Appropriations Act that provides for a variety of financial stimulus measures, including $325B in aid for small businesses, $166B in...more

Nelson Mullins Riley & Scarborough LLP

Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act Provides Additional Funding to Small Businesses Under the...

In response to the continued market disruption and economic impact of the COVID-19 pandemic, Congress passed the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act, or the Act, on December 21, 2020 as a part...more

McDermott Will & Emery

IRS Reasserts That Forgivable PPP Expenses Are Not Deductible, but Is Legislative Relief on the Way?

McDermott Will & Emery on

Loans under the Payroll Protection Program (PPP) are eligible for forgiveness depending upon whether and when the loan proceeds are used for qualified business expenses. One of the benefits of this program is that there is no...more

Ballard Spahr LLP

Fannie Mae and Freddie Mac Extend COVID-19 Policies

Ballard Spahr LLP on

Fannie Mae and Freddie Mac extended certain loan origination flexibilities due to COVID-19 from November 30, 2020, to December 31, 2020. The changes occurred November 13, 2020, through Fannie Mae updates to Lender Letter...more

Foodman CPAs & Advisors

What do you do if you are a Financial Institution with COVID-19 Loan Accommodations near the end?

On August 3, 2020, the Federal Financial Institutions Examination Council (FFIEC)  issued a Joint Statement on Additional Loan Accommodations Related to COVID-19 regarding loans  that are near the end of an initial loan...more

Orrick - Finance 20/20

Federal Reserve Expands Main Street Lending Program to Small and Medium-Sized Businesses

On June 8, the Federal Reserve Board (the “Board”) announced that it was expanding its Main Street Lending Program to allow more small and medium-sized business to qualify for the program. Among the changes, the Board lowered...more

Patterson Belknap Webb & Tyler LLP

COVID-19 Update: IRS Issues Guidance on Coronavirus-Related Distributions and Plan Loans Under the CARES Act

The IRS recently issued IRS Notice 2020-50 (“Notice 2020-50”) which provides guidance for retirement plan sponsors and administrators, as well as to individuals, relating to the application of coronavirus-related...more

Davis Wright Tremaine LLP

CARES Act Gets Needed Expansion and Clarification

The IRS has significantly expanded the categories of "qualified individuals" who can receive distributions and loans with favorable tax treatment to include individuals who have suffered a pay cut and those whose spouses and...more

71 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide