Last Updated 06/5/2020
Last Updated 06/5/2020
U.S. Senate cleared the PPP Flexibility Act by Unanimous Consent on 6/4/2020. This legislation, which is expected to be signed by the President,:
SBA and Treasury recently released the 11-page PPP Loan Forgiveness application and detailed instructions. The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The attached document outlines basic instructions on the loan forgiveness process. The link below connects you to the Small Business Administration (SBA) website and a link to the actual application and form.
The Department of the Treasury, using funds appropriated by the Exchange Stabilization Fund under section 4027 of the CARES ACT, created a lending program that will allow financial institutions an additional way to assist small and medium-size businesses whom have been impacted by COVID-19. The Main Street Lending Programs which have been authorized under section 13(3) of the Federal Reserve Act, are intended to facilitate lending to small and medium-sized Businesses by Eligible Lenders. For more information on this lending program
Learn how to take advantage of federal, state, and local financing assistance being offered to hotels during this historic health and economic crises. Listen as Yolanda Merriweather, Choice Hotels’ expert in the Small Business Administration loan process, discusses the financing landscape and the opportunities and assistance available hotel owners.
In this special edition of ChoiceU LIVE! hear how the CARES Act can assist you during this unprecedented time. This episode features Yolanda Merriweather, Choice Hotels’ expert in the Small Business Administration loan process, and Rolf Lundberg, VP of Public Policy at Choice Hotels. Listen as they discuss the main features of the new CARES Act that affect small businesses and how it can benefit hotel owners.
Join Regional Area Director Mike Hobson, and Area Directors Rhonda Shires and Rafael Mendez as they review the CARES ACT and the disaster relief funding opportunities that are available and how to apply for the assistance. This includes the PPP program and the Section 2307 Quality Improvement Program (QIP) Incentive.
The following documents provide summaries of recent legislative actions and provide information that can be help provide a greater understanding of the current laws and assistance that is available.
Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.