In a bipartisan vote, the House of Representatives passed the Paycheck Protection Program Flexibility Act on May 28, loosening some restrictions on borrowers and making it easier to qualify for loan forgiveness. Under the bill, businesses would be given more time to use the loans and greater flexibility to make needed expenditures and still qualify for ... READ MORE >
Main Street Lending Program should be attractive to eligible family offices
In the last few weeks, family offices in the United States have gone through a number of transformative changes due to the disruptive nature of COVID-19. These offices are working through issues regarding human capital, liquidity, data, cybersecurity, technology, and other enterprise risks. Depending on the mission and structure of the family office, the ... READ MORE >
Global M&A nosedives, and what comes next is still in question
Global mergers and acquisitions plunged in April as companies worked through business challenges resulting from the coronavirus. Through April and the first part of May, the total value of announced deals was $207 billion, according to Bloomberg, beginning what is expected to be a year over year decline of more than 50% for the second quarter. M&A has ... READ MORE >
As SBA accepts new applications for Paycheck Protection Program, private equity is not eligible
As the Small Business Administration began accepting applications on Monday for loans under the second round of financing for the Paycheck Protection Program, private equity firms and hedge funds will not be eligible. The SBA released additional guidance for the program on April 24, settling the questions of some private equity and hedge fund managers who ... READ MORE >
How private equity firms might qualify for SBA financing
In early 2012, The Atlantic published an article, “Private Equity Is a Force for Good” that gave a clear-eyed look at the industry and its impact on the economy.. Eight years later, the private equity industry, with billions in capital ready to put to work, is in a position to help the economy recover from the coronavirus pandemic by investing in growing ... READ MORE >
How family offices and their portfolio companies might qualify for loans under the CARES Act
The CARES Act is a $2.2 trillion fiscal policy response to help American citizens and businesses struggling with the severe impact from the coronavirus pandemic. The law created several important programs to help provide liquidity to small and midsize businesses to cover payroll or other business expenses. The programs all have a different purpose. To ... READ MORE >
How to become a qualified lender under the Paycheck Protection Program
(Note: this article was originally published on April 1, and was most recently updated on May 5.) The federal government recently approved the CARES Act, a $2.2 trillion fiscal stimulus meant to address the economic damage of the coronavirus. Included in that package is the Paycheck Protection Program, an ambitious new $349 billion loan program designed ... READ MORE >
With the CARES Act, online lenders are poised to become mainstream
The $2 trillion CARES Act promises to help many American businesses, individuals and states overcome the severe impact from the coronavirus pandemic. The 883-page document covers a range of industries, updates portions of tax reform and provides financial support for businesses and individuals. But one industry in particular is in a strong position to ... READ MORE >
For family offices, coronavirus presents a new challenge, and chance to reposition
As the human and economic toll of the coronavirus mounts, no sector of the economy has been immune from the downturn, and this includes family offices. Like any industry sector, family offices are facing challenges in managing the crisis. For instance, employees working from home was uncommon in the past because of the cost of technology improvements. But ... READ MORE >
As leveraged loans rise, so do risks for middle market companies
A storm is brewing in the corporate debt market, and it has the potential to threaten the middle market. With the amount of easy capital surrounding this sector of the economy, midsize companies have bitten off more than they can chew if the business cycle were to hit the brakes. And with recent geopolitical events and the coronavirus outbreak, the middle ... READ MORE >