Local courts should be prepared for an influx of filings as the federal eviction moratorium under the CARES Act officially expires on Friday. … READ MORE >
CARES Act
After suffering losses, health care providers could face a reckoning on debt covenants
On June 30, the financial results from health care providers with publicly traded bonds will be measured, providing a window into their financial condition and whether the providers that took on debt to fuel their growth will be able to meet their bond covenants. … READ MORE >
CARES Act expands access to loans for small and midsize businesses
The Coronavirus Aid, Relief and Economic Security (CARES) Act signed into law on Friday provides various options for small and midsize businesses facing liquidity challenges from the COVID-19 crisis. … READ MORE >
Bill would loosen restrictions in Paycheck Protection Program, making loan forgiveness easier
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. … 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. … READ MORE >
For real estate companies, the new Paycheck Protection Program funding is not a cure-all
The new Paycheck Protection Program will most likely face the same problem it had before: There isn’t enough money. At a burn rate that banking insiders estimate at $50 billion a day, the new Paycheck Protection Program funds are expected to be exhausted within a week. … READ MORE >
New relief is approved for hospitals, but challenges remain
Over the past few weeks, we have been reaching out to our clients as well as hosting several virtual CFO Forums. Through those interactions, our clients in the health care sector have been painting a grim picture of the financial effects of the coronavirus. … READ MORE >
Government devotes another $484 billion in aid, much of it for small businesses. But it may not be enough.
Aid to small businesses and hospitals comprise the bulk of the $484 billion aid package put forward by Congress and the Trump administration on Tuesday to mitigate the economic fallout from the COVID-19 public health emergency. … READ MORE >
How private equity firms might qualify for SBA financing
The private equity industry is in a position to help the economy recover from the coronavirus pandemic by investing in growing companies, helping them add employees, increasing capacity with their supply chains, investing in critical infrastructure systems and improving the communities they serve. … READ MORE >
How family offices and their portfolio companies might qualify for loans under the CARES Act
Some family offices might be classified as a small business under the Small Business Administration. And they could be eligible for loans under the CARES Act. … READ MORE >