Bonus Podcast: Overview of the Main Street Lending Program
As part of its response to the global coronavirus pandemic, the Federal Reserve is launching a "Main Street Lending Program"...
Commercial Lending
ABA, State Associations to Congress: Include ECORA Act in Next Relief Package
As Congress contemplates additional coronavirus relief legislation, the American Bankers Association and the 51 state bankers associations today wrote to...
Fed Expands PPP Liquidity Facility’s Eligible Participants, Collateral
The Federal Reserve today expanded access to its Paycheck Protection Program Liquidity Facility to nonbank lenders and expanded the range...
Bipartisan Letter Urges SBA to Reserve Funds for Regular 7(a) Loans
Noting that the recent bill adding funds to the Paycheck Protection Program as part of the Small Business Administration’s 7(a)...
Fed Expands Scope of ‘Main Street’ Program with ABA-Urged Changes
The Federal Reserve today expanded the scope of its Main Street Lending Program to accommodate more businesses and more loan...
SBA Limits PPP Funds for Corporate Groups to $20 Million
In an interim final rule today, the Small Business Administration said it will limit the amount of Paycheck Protection Program...
SBA to Audit PPP Loans Above $2 Million
The Small Business Administration will review all requests for forgiveness of Paycheck Protection Program loans in excess of $2 million...
960,000 PPP Loans Made Through Wednesday Afternoon
As of 5 p.m. EDT today, ABA has learned, the Small Business Administration has approved more than 960,000 round two...
Fed to Hold Rates Near Zero; ‘Very Close’ to MSLP Term Sheet Release
With the coronavirus pandemic continuing to cause significant economic disruptions and sharp spikes in unemployment, the Federal Reserve will maintain...
SBA to Reserve PPP Loan Processing Time Today for Smaller Banks
The Small Business Administration announced this afternoon that it will reserve an eight-hour block of time for lenders with less...
