The Mortgage Bankers Association and affiliated groups shared recommendations with the Senate Banking Committee to improve the Main Street Lending Program’s effectiveness for commercial real estate owners and tenants.
Tag: Small Business Administration
MBA, Trade Groups Submit Main Street Lending Program Recommendations
The Mortgage Bankers Association and affiliated groups shared recommendations with the Senate Banking Committee to improve the Main Street Lending Program’s effectiveness for commercial real estate owners and tenants.
Neal Doherty: A Lender’s Guide to PPP Loan Forgiveness Timeline
This article is intended as an overview of key steps in submitting and obtaining PPP loan forgiveness. It is based on guidance from the SBA, current as of the date of publication, and is merely a general overview. Lenders should always consult with their own legal advisor and check for new or updated guidance.
Neal Doherty: A Lender’s Guide to PPP Loan Forgiveness Timeline
A key provision of the CARES Act is the Paycheck Protection Program (PPP), which authorizes small businesses to apply for loans guaranteed by the Small Business Administration. PPP loans can be forgiven, either in whole or part, under certain conditions. This article is intended as an overview of key steps in submitting and obtaining PPP loan forgiveness.
Neal Doherty: A Lender’s Guide to PPP Loan Forgiveness Timeline
A key provision of the CARES Act is the Paycheck Protection Program (PPP), which authorizes small businesses to apply for loans guaranteed by the Small Business Administration. PPP loans can be forgiven, either in whole or part, under certain conditions. This article is intended as an overview of key steps in submitting and obtaining PPP loan forgiveness.
FHFA Allows FHLBs to Accept Paycheck Protection Program Loans as Collateral
The Federal Housing Finance Agency announced yesterday that Federal Home Loan Banks can accept Paycheck Protection Program loans as collateral when making loans (advances) to their members.
MBA Asks Small Business Administration to Relax Eligibility Rules for PPP Loans
The Mortgage Bankers Association, in a letter this week to the Treasury Department and the Small Business Administration, asked SBA to relax a part of its eligibility rule so that small independent mortgage banks can qualify for loans under Section 7(a) of the recently approved Paycheck Protection Program.
Fed Announces Additional $2.3 Trillion in Government Loan Facilities
The Federal Reserve yesterday announced a dramatic increase to the scale and scope of its mortgage-backed securities purchases, providing up to $2.3 trillion in new loans to support the economy to bolster the ability of state and local governments to deliver services during the coronavirus pandemic.
Fed Announces Additional $2.3 Trillion in Government Loan Facilities
The Federal Reserve this morning announced a dramatic increase to the scale and scope of its mortgage-backed securities purchases, providing up to $2.3 trillion in new loans to support the economy to bolster the ability of state and local governments to deliver services during the coronavirus pandemic.
Andrew Foster, Kelly Hamill: First Aid–Paycheck Protection Program Begins
The $2 trillion CARES Act bill is designed in part to provide liquidity to small businesses—including hard hit hotels—who will turn to the program first to cover costs such as payroll, utilities and interest on debt payments. Commercial real estate borrowers, tenants and their employees are prime candidates to apply for the program and many of MBA’s member banks will be instrumental in getting this $350 billion of relief to small businesses and their employees in communities across the country through their SBA lending programs.