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Introduction In a landmark move, the Reserve Bank of India ('RBI') rolled out a new framework through its Government Securities Lending ('GSL') Directions, 2023 ('Directions')1 to foster borrowing and lending [...]

The U.S. Department of Agriculture (USDA) announced changes to the Farm Service Agency's (FSA) Farm Loan Programs on Aug. 7, 2024. The changes, led by FSA Administrator Zach Ducheneaux, a [...]

Every ambitious South African entrepreneur dreams of expanding their business in the pursuit of increased profits. However, achieving significant growth often demands that the entrepreneur contributes substantial capital. In this [...]

In this Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on [...]

On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act, aka the 'CARES Act,' which included stimulus programs and regulatory initiatives in several areas to combat [...]

The U.S. Small Business Administration (SBA) is amending various regulations governing SBA's 7(a) Loan Program and 504 Loan Program. As part of the amended revisions, the SBA is removing the [...]

Listen to this post Summary: California lawmakers have greenlighted emergency loans to support struggling hospitals facing financial challenges across the state. These loans will serve as a critical lifeline, helping [...]

Highlights In August 2022, the Inflation Reduction Act (IRA) greatly expanded the lending authority of the U.S. Department of Energy (DOE) Loan Programs Office (LPO) for a total of nearly [...]

Building on its previous efforts to reduce the cost of federal student loans, the Department of Education (DOE), as directed by the Biden-Harris administration, proposed a new rule on Tuesday, [...]

The High Court of Kenya has dismissed a petition seeking to block Kenya Airways (KQ) from training its pilots abroad. The petition, in which ALN Kenya | Anjarwalla & Khanna [...]

Non-depository financial institutions-including fintechs and other alternative lenders-may be able to apply for new Small Business Lending Company (SBLC) licenses to participate in the Small Business Administration (SBA) 7(a) Loan [...]

Recently, the Second Circuit became the first federal circuit court to rule that the federal government could deny a Paycheck Protection Program ('PPP') loan to a debtor in bankruptcy solely [...]

Continuing the fallout from the now over-one-year-old decision in Barr v. American Association of Political Consultants, Inc., the U.S. Court of Appeals, Sixth Circuit ruled that the U.S. Constitution displaced [...]

The government forced small businesses to close during the COVID-19emergency. Then officials claimed they would provide 'help' with a loan and vague promises of possible forgiveness. Predictably, small businesses began [...]

The Paycheck Protection Program ('PPP') was a forgivable loan program administered by the US Small Business Administration ('SBA') that was created as part of the Coronavirus Aid, Relief, and Economic [...]

Highlights Authorized in 2005 to lend nearly $70 billion to innovative clean energy projects, the U.S. Department of Energy (DOE) Loan Programs Office (LPO) still has more than 60 percent [...]

Effective September 8, 2021, the U.S. Small Business Administration ('SBA') significantly expanded the ability of small businesses to apply for low-interest loans through the revised COVID Economic Injury Disaster Loan [...]

Highlights The U.S. Small Business Administration (SBA) announced changes to its emergency loan programs intended to provide critical access to capital for the industries hardest hit by COVID-19, including restaurants, [...]

As companies of all types and sizes continue to deal with the potential legal implications of the COVID-19 pandemic for their businesses, Jackson Walker provides insights and resources on the [...]

The US Department of Energy's Loan Programs Office (LPO) recently announced a streamlined application process for its Title XVII programs. Under Title XVII of the Energy Policy Act of 2005, [...]

As the corporate income tax filing deadline approaches for corporations with a December 31 year end, businesses that received the Canada Emergency Business Account (CEBA) Loan in 2020, should be [...]

On May 14, 2020, South Carolina enacted the Workforce and Senior Affordable Housing Act (the 'Act'), which created a state tax credit for owners of qualified low-income buildings (the 'State [...]

A SIDE BY SIDE COMPARISON While many other easements are ceasing, in an effort to continue supporting Australian small business, the Federal Government just announced the extension and expansion of [...]

On January 19, 2021 the Small Business Administration (SBA) issued frequently asked questions that address how to calculate revenue reduction and maximum loan amounts for second-draw Paycheck Protection Program (PPP) [...]

On December 27, 2020, the President signed the Consolidated Appropriations Act, 2021 ('2021 Act'), which contains the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act ('Economic Aid Act'). [...]

SBA's Proposed Loan Necessity Questionnaires Provide Scrutiny for PPP Loans in Excess of $2 Million The Small Business Administration ('SBA') is accepting comments until November 26, 2020 (Thanksgiving) on two [...]

IRS Provides Safe Harbor for Deducting Expenses if PPP Loan Is Not Forgiven The IRS issued Revenue Procedure 2020-51 in which it provides a safe harbor allowing a taxpayer to [...]

On June 19, 2020, the IRS issued Notice 2020-50 (the 'Notice'), which provides additional guidance regarding coronavirus distributions and loans from qualified retirement plans under the Coronavirus Aid, Relief, and [...]

What is the CECRA? The federal government launched the CECRA program to provide financial assistance to small businesses in respect of their commercial rent. The program is administrated by the [...]

The Federal Reserve Board, the FDIC and the OCC (collectively, the 'Agencies') updated 'host state loan-to-deposit ratios' for 2020. The ratios are used in assessing compliance with Section 109 of [...]

On May 28, the Federal Reserve published the structural and operational details of the Main Street Lending Program, releasing program documentation and updated FAQs. These documents are the final remaining [...]

The Small Business Administration (SBA) has issued important guidance to Paycheck Protection Program (PPP) borrowers seeking loan forgiveness. A loan forgiveness application has been posted on the SBA website and [...]

The Senate has approved the Paycheck Protection Program and Health Care Enhancement Act which provides an additional $310 billion of funding for the Paycheck Protection Program loan program along with [...]

In the last few days, the Small Business Administration ('SBA') has published further guidance on the Paycheck Protection Program ('PPP') Business Affiliation Rules, which we attempt to summarize below. You [...]

The recently passed CARES Act provides for billions of dollars in economic assistance to millions of individuals and businesses negatively affected by the ever-evolving and escalating toll of the Covid-19 [...]

On June 29, the Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System and Office of the Comptroller of the Currency issued the host state loan-to-deposit ratios [...]

On May 5th, the Bank of Canada released a consultation paper on changes that it is considering making to its Emergency Lending Assistance (ELA) program. Under the ELA program, the [...]

Discriminatory practices in the financial services industry have long been regulated by governmental entities tasked with promoting fair lending and ensuring equal opportunity regardless of race and gender. As early [...]

On January 16, the American Bankers Association (ABA) issued a letter opposing a proposal offered by the Department of Defense to amend the regulations that implement the Military Lending Act. [...]

On 2 July 2014, the Federal Reserve Board, the Federal Deposit Insurance Corporation ('FDIC'), and the Office of the Comptroller of the Currency ('OCC') issued an updated list of host [...]

To avoid governmental shutdown, the House and Senate are committed to passing a second continuing resolution (H.R. 933) before the current one expires on March 27. The new continuing resolution [...]

Previously published in BNA's Banking Report Students seeking to borrow funds to finance a post-secondary education have numerous options, including loans offered by the federal government, state governments, educational institutions [...]

This article was originally published 5 March, 2009 On March 3, 2009, the Federal Reserve Board released the final terms and conditions applicable to the initial loan subscription, including loan [...]

The U.S. Department of the Treasury, the Federal Reserve Board, the Federal Deposit Insurance Corporation ('FDIC'), the Office of the Comptroller of the Currency, and the Office of Thrift Supervision [...]