- The Paycheck Protection Small Business Forgiveness Act
- Support Building for More Constructive ABL Integration Into Main Street Lending Programs
- PPP Bill Extends $310B in Additional Capital…Fails to Incorporate Provisions for Lender Eligibility as Borrowers
- SFNet Sends Letter to SBA and Treasury in Support of Non-bank Lenders Under CARES Act
- Main Street Lending Program Updates as of May 28
SFNet CEO Reiterates Call for Eligibility of Secured Lenders as Borrowers Under PPP
June 11, 2020
Source: Secured Finance Network
In response to the newly passed Paycheck Protection Program Flexibility Act, SFNet issued a letter to Treasury Secretary Mnuchin, SBA Administrator Carranza and Members of Congress reiterating its calls to make secured lenders and factors eligible as borrowers under the Paycheck Protection Program Interim Final Rule, noting that these institutions "who are a critical conduit of capital flows for our economy are now facing material economic hardship, not only from reduced economic activity, but by the displacement of revenue streams due to the success of PPP!"
Please click here to read the letter.
Please click here to read the letter.