The Federal Reserve yesterday provided new information about the Main Street Lending Program, which is designed to target midsize businesses too large to qualify for the Paycheck Protection Program and/or that need money for more than just payroll expenses. The Fed indicated that businesses with up to 15,000 employees and $5 billion in annual revenue will be able to apply. No firm date has been set yet for the program to begin, but Thursday’s press release notes that a start date is expected to be announced soon. We encourage physician practices potentially eligible for the program to begin talking with their banks about the process for applying for these loans now.
All Curi recommendations are based on current CDC criteria at the time of publication. CDC guidance for SARS-CoV-2 infection may, or may not, be adopted by state and local health departments to respond to rapidly changing local circumstances. Providers should always check with their local health department to see if the CDC’s guidance on any given topic has been modified (particularly if more restrictive) from the CDC’s recommended guidelines. Follow this link https://www.cdc.gov/publichealthgateway/healthdirectories/index.html for contact information to your state/local health department. If local recommendations vary from those of the CDC, and you are unsure what recommendations to follow, then it is safer to follow the more restrictive guidelines/recommendations.