Page 8 - Second Draw News Today

REGULATORY DEVELOPMENTS On February 4, the SEC published a request for public comment regarding potential reform measures for money market funds, as highlighted in a recent report of the President’s Working Group on Financial Markets (PWG). The PWG report discussed the results of the PWG’s study on the effect of the COVID-19 pandemic on the short-term funding markets and, in particular, on money market funds, including the general stress experienced by prime and tax-exempt money market fund...

Construction industry news, trends and jobs for building professionals who want mobile-friendly content.

Following are a few highlights from this week’s Paycheck Protection Programs (PPP) report by the U.S. Small Business Administration. The report includes data through Feb. 7.

How excited are we, in PA, about everyone being eligible for a vaccine by April 19? Im cautiously encouraged because Ive been ineligible so far. Anyone care to comment? If you want to send remarks for a Patch story, email me at marlene.lang@patch.com. Be well! Thank

Small Business owners are no strangers to being busy. Between serving customers, managing your employees, marketing your business, financials, payroll, scheduling, and paperwork –there’s little time for much else. Then you add a global pandemic to the mix and while in many ways the world seemed to slow down, small business owners everywhere had to work that much harder to try to find ways to survive. Now you’re hearing about the second wave of a coronavirus relief program for small busi...

Feb 11, 2021 Lyons Gate Group owner Jose Williams received a $16,000 Paycheck Protection Program loan last year and has applied again under the current round of PPP funding.There’s federal money up for grabs again for pandemic-hit owner-operators and small fleets, with about seven weeks left to apply. The process for effectively turning a Paycheck Protection Program loan into a grant has been simplified since the first time it was offered, and in other ways the program is less restrictive th...

The Fairness for Craft Beverage Producers Act corrects what U.S. Rep. Jason Crow’s office described as an “oversight” that made craft breweries ineligible for the maximum loan amount and also

Five-year maturity All guidance issued in connection with First Draw Loans applies to Second Draw Loans, except as specified in the new guidance applicable to Second Draw Loans. SBA Guaranty As with First Draw Loans, Second Draw Loans are subject to an SBA guaranty of 100% of Second Draw Loans. As a result, a lender who makes Second Draw Loan will not bear the financial risk of non-payment, as long as the lender complies with its obligations under the program. Eligibility Eligibility for Second...

For the last seven months, the U.S. Small Business Association (“SBA”) and U.S. Treasury Department have administered one of the Federal government’s widely supported COVID-19 response...

CAA”), which provides $900 billion in new COVID-19 relief funding, was signed into law on December 27, 2020.  Section 324 of Title III of the CAA, the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (the “ Economic Aid Act”), introduces a new $15 billion grant program through which the U.S. Small Business Administration (the “ SBA”) will provide aid to struggling live venue operators and certain related businesses.  This program offers a critical lifeline from t...