This is the third article in a series examining major economic policy responses to the pandemic that targeted small and midsize businesses. The first article looks at the Paycheck Protection Program, and the second looks at the Main Street Lending Program. The economic collapse that accompanied the ... READ MORE >
Paycheck Protection Program
The pandemic response: Assessing the Paycheck Protection Program
This is the first article in a series this week examining major economic policy responses to the pandemic that targeted small and midsize businesses. The second article will look at the Main Street Lending Program, and the third will offer policy recommendations for responding to future ... READ MORE >
Comment: Treasury Department moves to end select pandemic-era lending programs
Risks to the economic outlook have been rising recently because an array of benefits meant to blunt the economic downturn are scheduled to expire on Dec. 31. Those risks increased on Thursday when the Treasury Department told the Federal Reserve that it would not extend nine of the 13 liquidity and ... READ MORE >
SBA announces simplified PPP loan forgiveness
Some businesses that accepted financing under the Paycheck Protection Program now have a streamlined path to receiving the promised forgiveness of those loans, under new guidelines released late Thursday. The Small Business Administration, in consultation with the Treasury Department, announced ... READ MORE >
Small and medium size firms in crisis: A message from the real economy
The condition of small and medium-size firms implies a potential inflection point in the nascent economic rebound following the near shutdown of the economy last spring. Without further reform and support of the signature Paycheck Protection Program (PPP)—which provided a vital lifeline to those firms ... READ MORE >
Fintechs helped with the Paycheck Protection Program. Why not the Main Street Lending Program?
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 >
What PPP loan data reveals about business and professional services and the economic recovery
Business and professional services (BPS) firms borrowed more Paycheck Protection Program loans through June than all but four segments of the U.S. economy. Industry executives took advantage of federal assistance in an effort to maintain their capabilities and client relationships by retaining their ... READ MORE >
The Paycheck Protection Program still has legs after Congress approves extension
The $659 billion Paycheck Protection Program, which was scheduled to stop accepting new applications on Tuesday even though it had more than $134 billion left to distribute as of June 27, could now be extended through Aug. 8, after the Senate and the House approved the measure. The program has been a ... READ MORE >