news & Press

On July 31, 2020, the U.S. Department of Health and Human Services (HHS) granted another opportunity for healthcare providers to apply for the Provider Relief Fund (PRF) under Phase 2, aimed at reimbursing eligible healthcare-related expenses and lost revenues attributable to COVID-19. Healthcare providers who have already received a payment under Phase 1 of the…

On August 14, 2020, the U.S. Department of Health and Human Services (HHS) provided details on the Provider Relief Fund reporting requirements.  The Provider Relief Fund (PRF) was allocated $175 billion under the CARES Act to reimburse eligible healthcare providers for healthcare-related expenses and lost revenues attributable to COVID-19. Here is a recap of the…

As small businesses continue to seek credit and financing opportunities to stem the tide of the COVID-19 pandemic, the Small Business Administration (SBA) has taken further action to boost the economy.  On August 18, 2020, the SBA reduced interest rates for its 504 Loan Program to 2.214% for 20-year loans and 2.269% for 25-year loans.…

On August 8, 2020, President Trump signed four executive orders to provide economic assistance as the self-imposed deadline for Congress to reach a coronavirus relief package passed.  These four executive orders are summarized below: Unemployment Assistance: Reinstate the previously expired enhanced unemployment benefit, reducing the benefit from $600/week to $400/week through weeks of unemployment ending…

The Federal Reserve has announced an extension through December 31 of its lending facilities that were initially scheduled to expire on or around September 30.  The lending facilities are geared towards countering the economic downturn and aimed at credit markets, small and large businesses and corporate bonds. The extension will apply to the Primary Dealer…