Daily Three: June 22
June 22, 2020
Late last week, the U.S. Department of Treasury and the Small Business Administration announced that they plan to release the names of businesses that received $150,000 or more in Paycheck Protection Program (PPP) loans. The disclosures will include the names of recipients and a dollar range for each loan, such as whether it was between $1 million and $2 million. Precise dollar amounts will not be disclosed. According to press accounts, nearly 75 percent of all loans were for $150,000 or more, so most borrowers would be revealed. How might this affect you, your business, or your reputation? Consider a few perspectives and communication points. Authored by Gary Blackman
- Over the weekend, the Federal Reserve updated its previously issued guidance regarding the Main Street Lending Program (MSLP). In doing so, it clarified several important issues for potential borrowers and lenders, as outlined here. Read our interpretation of the updated FAQs. Authored by Emily Watson
The retail landscape is quickly evolving and in significant ways. Depending on your business, vendors, and sources of revenue, the changing landscape may have a considerable impact on your short- and long-term strategies as well as your bottom line. Read our overview of how COVID is affecting the major retail market. Authored by Marc Fenton
For more resources and LP's response to COVID-19, visit this webpage.