On June 8, the Federal Reserve released revised term sheets for its Main Street Lending Program (MSLP), ahead of the program becoming officially operationalized. The MSLP aims to increase the flow of credit to small and medium-sized businesses that were in good financial standing prior to the COVID-19 crisis. Over the past few weeks, the […]
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The Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010) (PPP Flexibility Act), enacted on June 5, 2020, makes welcome changes to the forgiveness rules for Paycheck Protection Program (PPP) loans made to small businesses in response to the novel coronavirus global pandemic (COVID-19). The PPP Flexibility Act greatly increases the likelihood that a large percentage […]
Read moreAs of May 27, 2020 The federal government has passed several stimulus packages to mitigate the deep impact of the coronavirus on U.S. businesses and the economy. So far, there have been loan programs and four emergency relief packages, and as of this writing, House Democrats passed a fifth package, which will likely meet opposition […]
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