Perspectives on Real Estate Finance - Borrowers
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ArentFox Schiff is pleased to announce that 93 attorneys and 21 practices have been ranked by The Legal 500 United States 2023 guide, a nationwide analysis of law firms that provide cutting-edge and innovative advice.
The 2022 edition of Legal 500 US has rated 77 ArentFox Schiff attorneys as national leaders in their field. In addition, 19 of the firm’s practice areas were ranked among the best in the country.
Effective October 30, 2020, the Federal Reserve updated its Term Sheets and Frequently Asked Questions (the “Updated FAQs”) describing the Main Street Lending Program (the “Program”) to expand the number of businesses that may be eligible to borrow under the Program.
Effective June 20, 2020, the Federal Reserve updated its Term Sheet and Frequently Asked Questions (the “Updated FAQs”) describing the Main Street Lending Program (the “Program”) to expand the number of businesses that may be eligible to borrow under the Program.
In response to public feedback to the initial terms of the Main Street Lending Program, the Federal Reserve Board announced on April 30, 2020, an expansion of the loan options available to businesses and an increase in the maximum size of businesses that are eligible to borrow under the Program.
Revised term sheets and FAQs issued by the Federal Reserve Board expand the program and provide additional guidance for borrowers affected by the COVID-19 crisis. A chart outlining the updated term sheets can be found in the link below.
Many senior living owners and operators have found that the Payroll Protection Program loan program either provides insufficient support to them or that they are ineligible for PPP loans.
The Main Street Lending Program (the Program) is separated into two distinct facilities – the Main Street New Loan Facility (MSNLF) and the Main Street Expanded Loan Facility (MSELF). The points below outline why the Program could be attractive to hotel owners, hotel operators, and their lenders.
Below is a summary of the Main Street New Loan Facility and the Main Street Expanded Loan Facility, details of which were released by the Federal Reserve this morning. Arent Fox will continue to update, and expand on, this summary as more information becomes available.