• Madeline O. McElhanon

    Main Street Lending Program To Provide $600 Billion in COVID Relief For Businesses

    November 23, 2020
    As a component of the Coronavirus Aid, Relief & Economic Security Act, the Federal Reserve established the Main Street Lending Program to provide up to $600 billion in financing to businesses and nonprofit organizations negatively impacted by the onset of the COVID-19 pandemic.
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  • Coronavirus Alert

    Federal Reserve Makes Adjustments to Main Street Lending Program Terms

    November 2, 2020
    On October 30th, the Federal Reserve Board announced two adjustments to the terms of its Main Street Lending Program. These changes are designed to better provide support to smaller for-profit businesses and nonprofit organizations.
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  • Robert Smith & Madeline McElhanon

    Arkansas Banks Take Advantage of Low Rates on Subordinated Debt

    October 27, 2020
    With interest rates remaining historically low, a number of Arkansas banks have taken steps to secure an additional capital cushion through a subordinated debt offering. As reported earlier this year by American Banker, the pandemic has incentivized institutions to shore up capital as a protection against credit losses, as well as preparing to take advantage of potential lending and M&A opportunities.
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  • Coronavirus Alert

    SBA Releases New Interim Final Rule on Paycheck Protection Program

    August 28, 2020
    On August 24, the U.S. Small Business Administration (SBA) released a new interim final rule regarding the Paycheck Protection Program (PPP). This new interim final rule provides additional guidance on the applicability of owner compensation rules and the eligibility of certain nonpayroll costs for forgiveness.
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  • Coronavirus Alert

    FFIEC Issues New Statement on Loan Accommodations Related to Covid-19

    August 12, 2020
    On August 3, 2020, the Federal Financial Institutions Examination Council (FFIEC) issued a joint statement addressing additional loan accommodations related to Covid-19. As borrowers near the end of initial loan accommodation periods, the FFIEC encourages financial institutions to consider loan arrangements that might mitigate adverse effects on borrowers. Specifically, the FFIEC promoted the following practices:
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  • Coronavirus Alert

    PPP - SBA Releases New Frequently Asked Questions on Loan Forgiveness

    August 10, 2020
    On August 4, the U. S. Small Business Administration (SBA), in consultation with the Department of the Treasury, issued additional guidance on the forgiveness of Paycheck Protection Program (PPP) loans in the form of Frequently Asked Questions.
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  • Coronavirus News Alert

    Paycheck Protection Program: SBA Releases New PPP Loan Guidance

    June 16, 2020
    Last week the U.S. Small Business Administration released revisions to the Paycheck Protection Program – First Interim Final Rule in response to the enactment of the Paycheck Protection Program Flexibility Act (Flexibility Act), H.R. 7010.
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