As businesses begin the process of reopening their doors after the COVID-19 shutdown, many have considered turning to the Federal Reserve’s Main Street Lending Program for aid. Announced on March 23, the Program’s goal is to help businesses weather the pandemic and the subsequent economic effects. However, recent changes to the Program may make it even more attractive and useful to business ... Read More
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From Our Blog: The Starlight Navigator
An “eye-popping” $2 trillion in cash has been stashed in deposit accounts at U.S. banks since the COVID-19 pandemic first hit the country in January.1 This surge of money into banks has no precedent in history. Several factors have contributed to the cash surge, including $600 billion in government-sponsored loans to small businesses, direct checks to individuals, and expanded ... Read More
American lawmakers have passed the Paycheck Protection Program and Health Care Enhancement Act, a program that will offer small business loans to employers in need of aid as a result of the COVID-19 pandemic.1,2 The bill is a $484 billion dollar package, of which $310 billion is earmarked for the Paycheck Protection Program (PPP).1,2 For my friends who run a small business, this is welcome ... Read More