Main Street Lending Program: Federal Reserve, Treasury Department Create New Lending Facility, Release Updated Program Terms and FAQ’s This Client Alert relating to the Main Street Lending Program (the “MSLP”) has been updated to incorporate new guidance released by...
Client Alert SBA, Treasury Department Warn Businesses to Carefully Consider Whether PPP Loan is Necessary On April 23, 2020, the Treasury Department, in collaboration with the Small Business Administration (the “SBA”), released guidance in the form of Frequently Asked...
Client Alert Main Street Lending Program: Federal Reserve, Treasury Department Take Action to Combat COVID-19 Pursuant to its mandate from Congress to promote maximum employment, stable prices and market stability, the Federal Reserve announced on April 9, 2020, that...
CARES Act: Frequently Asked Questions and Answers Click to Go to Answer: When can my business submit an application for an SBA 7(a) loan from the Paycheck Protection Program? For purposes of calculating “payroll costs,” should a business include...
Summary of Legislation and Rulemaking Impacting Small Businesses Affected by COVID-19 The impact of COVID-19 has affected everyone in the United States. In response to the widespread economic consequences suffered by small businesses and their employees, the federal...
Summary of Federal, State of Illinois and City of Chicago Grant and Loan Programs to Assist Small Businesses Affected by COVID-19 Businesses around the world are facing significant adverse consequences due to government-mandated shutdowns and loss of business arising...
