Yale School of Management

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Paycheck Protection Program Loan Forgiveness Rules Eased for Smallest Borrowers

October 13, 2020
YPFS
On October 8, the Small Business Administration (SBA) and Treasury released an interim final rule easing the process for loan forgiveness on Paycheck Protection Program (PPP) loans of $50,000 or less. The new rule exempts small businesses with such loans from reductions in loan forgiveness if they have cut wages or laid off employees. The previous rule required PPP borrowers to maintain employment and wages at pre-COVID levels in order to be fully eligible for loan forgiveness.  Continue reading “Paycheck Protection Program Loan Forgiveness Rules Eased for Smallest Borrowers”

Spain Implements Tranched, Adaptive Credit Guarantee Program to Meet Firm Demand

October 12, 2020
YPFS
Spanish companies borrowed nearly €100 billion by the end of August through Spain’s tranched credit guarantee program that targeted small and medium-sized enterprises (SMEs), businesses disproportionately impacted by the COVID-19 pandemic. The scheme, announced in mid-March, allowed policymakers to tweak the program’s rules as they opened each funding pool. Continue reading “Spain Implements Tranched, Adaptive Credit Guarantee Program to Meet Firm Demand”

Paycheck Protection Program Loan Forgiveness Rules Eased for Smallest Borrowers

October 13, 2020
YPFS
On October 8, the Small Business Administration (SBA) and Treasury released an interim final rule easing the process for loan forgiveness on Paycheck Protection Program (PPP) loans of $50,000 or less. The new rule exempts small businesses with such loans from reductions in loan forgiveness if they have cut wages or laid off employees. The previous rule required PPP borrowers to maintain employment and wages at pre-COVID levels in order to be fully eligible for loan forgiveness.  Continue reading “Paycheck Protection Program Loan Forgiveness Rules Eased for Smallest Borrowers”

Spain Implements Tranched, Adaptive Credit Guarantee Program to Meet Firm Demand

October 12, 2020
YPFS
Spanish companies borrowed nearly €100 billion by the end of August through Spain’s tranched credit guarantee program that targeted small and medium-sized enterprises (SMEs), businesses disproportionately impacted by the COVID-19 pandemic. The scheme, announced in mid-March, allowed policymakers to tweak the program’s rules as they opened each funding pool. Continue reading “Spain Implements Tranched, Adaptive Credit Guarantee Program to Meet Firm Demand”