Federal Reserve Finally Launches Main Street Lending

At long last, the Federal Reserve has officially opened its Main Street Lending Program this week, inviting lender to register for the program so they can begin loaning immediately. The program, which has been in the works and on the drawing board since early April, not long after the coronavirus pandemic caused the economic shutdown…

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CFA and NRA Look to Expand IRC Stabilization Fund

The Coalition of Franchisee Associations (CFA) is working alongside the National Restaurant Association (NRA) to broaden a proposed restaurant-only stabilization fund to help the restaurant industry recover from the coronavirus pandemic and the economic devastation it has caused the industry. As we advised a few weeks ago, the newly-created Independent Restaurant Coalition is pushing Congress…

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State and Local Governments Offering Loan Programs

A number of states as well as local communities have begun offering their own loan programs to help businesses recover from the coronavirus shutdowns. For example, New York Governor Andrew Cuomo announced the creation of a new $100 million loan program this past week entitled the New York Forward Loan Fund. Monies from the fund…

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CDC Releases Reopening Guidance

In that same vein, the Centers for Disease Control (CDC) last week released reopening guidelines broken down for specific industries – including restaurants. The 60-page guidance “Opening America Up Again”, which is available here as a pdf for download, includes instruction on how to scale-up operations, sanitation practices, social distancing procedures, health monitoring guidelines and…

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A Mix of States Eye Re-Openings

Opinions of whether, how and when individual states should re-open for business in light of the coronavirus crisis are as diverse as one can imagine. That said, there are no fewer than a dozen states across the nation committed to opening their economies as soon as today. Four states (Alaska, Georgia, South Carolina and Tennessee)…

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Trump Names 17 Economic Revival Task Forces

The White House announced the creation of 17 industry specific task forces that the President will look to for advice and guidance relative to reopening the American economy.  One of the task forces, focused on the food and beverage industry, consists of twenty-three (23) individual members including restaurant brand CEOs, chefs and restaurateurs as well…

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McConnell Files Coronavirus Phase #3

Republican Senate Majority Leader Mitch McConnell last night filed a third economic stimulus bill in an ongoing effort to mitigate the fallout from the coronavirus pandemic that has ravaged the American economy. The legislation, which has the support of the White House, provides for the direct payment of $1200 to all Americans earning less than…

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Various States of Emergency

As of this writing, COVID-19 has caused 48 of the 50 United States to declare public emergencies at the state level to some degree or another. Only Oklahoma and West Virginia have yet to make such a declaration. In each of the states, the public emergency declaration gives the governments additional tools, flexibility and power…

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