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 >
Paycheck Protection Program
Main Street Lending Program should be attractive to eligible family offices
As steady flows of management fees and profits interest start to attenuate, liquidity becomes more important to prevent the family office’s operations from slipping. As the economy slows and uncertainties linger, family offices that provide investment management services need to move beyond the Paycheck Protection Program and focus on the new Main Street Lending Program. … 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 >
Paycheck Protection Program: Demand for aid far outstrips policy package
The Small Business Administration’s Paycheck Protection Program, the signature policy response to provide bridge financing to small firms with fewer than 500 employees in one location, has exhausted the first $350 billion tranche in aid provided by Congress and the Trump administration. … READ MORE >
Construction sector uncertainty shows up in labor, loans and demand data
Slow and uncertain—that is the state of the construction ecosystem right now. The unstable environment for builders has resulted in huge layoffs for their workforce and a disproportionate amount of loans taken under a new SBA lending relief program. … 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 >
Companies tap $247.5 billion in loans under Paycheck Protection Program
Small to midsize business seeking relief from economic woes due to the Covid-19 pandemic have tapped $247.5 billion from the government’s Paycheck Protection Program through April 13, according to data released by the Small Business Administration on Tuesday. … READ MORE >