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Main Street Lending Program - The Federal Reserve Releases Additional Guidance on the Loan Facilities Available to For Profit Businesses

USA - August 7 2020 Since the launch of the Main Street Lending Program, the Federal Reserve (through the Federal Reserve Bank of Boston, which is implementing the…

Brent Beckert, James Markus, Neal M. Kaminsky, Steven H. Epstein.

New Interim Final Rule: Revisions to PPP Loan Forgiveness and Loan Review Procedures

USA - July 1 2020 On June 22, 2020, the Small Business Administration (“SBA”) released a new interim final rule (“New IFR”) on the Paycheck Protection Program (“PPP”)…

Daniel Wei, James Markus, Rachael Apfel, Taylor C. West.

The Federal Reserve Releases Additional Guidance, Terms, Conditions and Agreement Forms and Expands the Program to Allow for Broader Borrower Participation

USA - June 10 2020 In preparation for the imminent launch of the Main Street Lending Program, the Federal Reserve (through the Federal Reserve Bank of Boston, which is…

Brent Beckert, James Markus, Neal M. Kaminsky, Steven H. Epstein.

President Signs Paycheck Protection Program Flexibility Act

USA - June 8 2020 On June 5, 2020, President Trump signed H.R.7010, the Paycheck Protection Program Flexibility Act of 2020 (the “PPPFA”). The PPPFA modifies the…

James Markus, Rachael Apfel, Taylor C. West.

SBA Issues New Guidance on PPP Loan Forgiveness

USA - June 1 2020 On May 22, 2020, the Small Business Administration (“SBA”) provided additional guidance on the Paycheck Protection Program (“PPP”) through the…

Brent Beckert, James Markus, Paul H. Amiel, Rachael Apfel.