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 Questions (FAQ).  The potentially most significant aspect of the FAQ’s is the warning that businesses applying for, or receiving, Paycheck Protection Program (“PPP”) loans should carefully analyze whether their “[c]urrent economic […]

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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 it is taking measures to provide up to $2.3 trillion to further assist households and employers of all sizes during the COVID-19 pandemic. The actions taken by the Federal Reserve, in

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