What makes a great partnership? There are a number of examples of great partnerships that have worked toward a common goal. In the sports world, think of Michael Jordan and Scottie Pippen or Joe Montana and Jerry Rice. In business, there is the recent success between Apple and Goldman Sachs in ... READ MORE >
RSM’s exclusive MMBI survey reveals how the Main Street Lending Program can be improved
Growing uncertainty surrounding another round of fiscal aid in Washington has reignited concerns about the Main Street Lending Program and whether it can help small and midsize organizations find bridge financing as the COVID-19 crisis continues. The program remains woefully undersubscribed. ... READ MORE >
Without adjustments, Main Street Lending Program is unlikely to be mainstream
Unlike the strong demand for the Paycheck Protection Program, which saw $350 billion in aid snatched up in the 13 days following its debut, interest in the Main Street Lending Program has been more muted; less than $100 million in aid was requested in the program’s first month, according to data from the ... READ MORE >
An SOS for commercial real estate
As the length and severity of the coronavirus pandemic continue to wreak havoc on the economy, real estate deals are at best being reworked and at worst falling apart altogether. The data tells a clear story: Transactions are down almost 70% in the second quarter, according to Real Capital ... READ MORE >
Alternative data is flashing warning signs of a slowing economy
The decisions made in May to reopen parts of the country without proper safety protocols have brought about a resurgence in COVID-19 cases that has already swept through more than 40 states with no signs of stopping and now has the U.S. economy stalling. The evidence of this slowdown has been ... READ MORE >
No vaccine, no recovery: The long road back
It is becoming quite clear that absent an accessible and widely distributed vaccine, there will be no complete economic recovery. What originally was thought to be a 15 week problem has quickly evolved into something that looks more like a 15-month challenge. The premature reopening of the U.S. economy ... READ MORE >
Federal Reserve expands scope of Main Street Lending Program
(This article was updated on Oct. 30 to reflect new terms in the Main Street Lending Program.) With the Main Street Lending Program likely to be launched in the coming days, the Federal Reserve has once again announced updates that expand the scope of the program. The adjustments include lengthening ... READ MORE >
Main Street Lending Program details released; program expected to start soon
The Federal Reserve took an important step toward the launch of the long-awaited Main Street Lending Program (MSLP) on Wednesday with the release of details about how the program will work. Based on these new details, which were released by the Boston Federal Reserve, and recent comments from Eric ... READ MORE >
As demand for commercial loans rises, so do underwriting standards
The growing uncertainty surrounding the coronavirus pandemic has created a surge in demand for financing from commercial firms, according to the latest Federal Reserve Senior Loan Officer Survey and to proprietary research recently released by RSM. The Fed's survey showed that demand for loans from ... READ MORE >
More details about the Main Street Lending Program
On April 30, the Federal Reserve released additional guidance on the expanding scope and eligibility for Main Street Lending Program. Much to the credit of firms that submitted comments to the Federal Reserve, the Main Street Lending Program is now eligible for those firms with $5 billion in annual ... READ MORE >