Hotel stays, vital to Prince William pandemic recovery, are down Image: Prince William County Government
The coronavirus pandemic continues to hurt the hotel industry in Prince William County.
The county’s hotel occupancy spiked a bit in October but has fallen into a slump, exasperated by the lack of traveling this holiday season due to the coronavirus pandemic.
According to the Prince William County Economic Development Authority, hotel stays increased slightly in October 2020 as occupancy rates averaged 54.3%, up from 53% in the previous month. Over the holidays, however, hotel traffic slowed down. According to the same report from the Economic Development office, transient occupancy tax collections a tax paid by hotel guests are down nearly $300,000 in the third quarter of 2020 compared to the last quarter.
Shares of industrial and transportation companies fell as hopes for a bigger stimulus package faded. Senate Majority Leader Mitch McConnell blocked an effort by Democrats to hold a vote on.
Federal Reserve Extends Termination Date Of Main Street Lending Program Facilities To January 8, 2021 To Allow More Time To Process And Fund Loans That Were Submitted To Main Street Lender Portal On Or Before December 14, 2020 Date
29/12/2020
In order to allow more time to process and fund loans that were submitted to the Main Street lender portal on or before December 14, 2020, the Federal Reserve Board on Tuesday extended the termination date of the Main Street Lending Program facilities to January 8, 2021.
As described in new frequently asked questions and program term sheets, the extension is consistent with section 1005 of the Consolidated Appropriations Act and was also approved by the Secretary of the Treasury.
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Fed, Treasury Extend Main Street Lending Program Cutoff Date to Jan. 8 Update
12/29/2020 | 01:43pm EDT
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By Nick Timiraos The Treasury Department and Federal Reserve said Tuesday they had extended the cutoff date for the Main Street Lending Program from Dec. 31 to Jan. 8 to process a last-minute crush to deliver loans. Treasury Secretary Steven Mnuchin last month declined to grant an extension to several emergency-lending programs run by the Fed, including the Main Street Lending Program, which is designed to support lending to small and midsize businesses and nonprofits disrupted by the coronavirus pandemic. As a result, the program stopped accepting loans after Dec. 14, but it witnessed a flood of loan submissions leading up to that deadline, some of which are still being processed.