Insight

Washington Report 360 | May 1, 2020

SBA PPP additional $310 billion; FRB expanding Main Street Lending Program; Focus on credit facilities

Amy S. Matsuo

Amy S. Matsuo

National Leader, Regulatory Insights, KPMG US

+1 919-244-0266

Highlights

  • The SBA’s Paycheck Protection Program (PPP) re-commenced on April 27 with an additional $310 billion in funding following enactment of H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act. Treasury and SBA published multiple interim final rules for the PPP and stated they will review certain loans ahead of forgiveness.
  • FRB expanded the Main Street Lending Program, including the addition of a new lending option, and modified loan terms; the program start date has not yet been set.
  • Focus on credit facilities – FRB expanded the scope, including eligible participants and terms, of its credit facilities for municipalities and PPP participants.

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