A Guide to the Financial Resources Your Business Needs Right Now

PRESENTED BY
UPDATE ON FEDERAL & STATE
FINANCIAL PROGRAMS:
EXTENDED Q&A
PRESENTED BY
 GUEST SPEAKERS

KEVIN LAW JOHN MALLANO ROBERT J. PIECHOTA

President & CEO SBA New York Branch Manager
The Long Island Association Deputy District Director of SBA’s LI Office

Overview of the Federal SBA Economic Injury Disaster

Latest Federal and Programs that are Available Loan and the EIDL Advance
State Updates to the Small Business Programs Established through
Community the CARES Act
 FEDERAL UPDATE

On April 9th, the Federal Reserve

took additional actions to provide
up to $2.3 trillion in loans to
support the economy.
MAIN STREET LENDING PROGRAM
The Main Street Lending Program will enhance support
for small and mid-sized businesses by offering 4-year
loans to companies employing up to 10,000 workers
or with revenues of less than $2.5 billion.
Eligible banks may originate new Main Street loans
or use Main Street loans to increase the size of
existing loans to businesses.
MAIN STREET LENDING PROGRAM

Principal and interest payments

will be deferred for one year.
Firms seeking Main Street loans must
commit to make reasonable efforts to
maintain payroll and retain workers.
MAIN STREET LENDING PROGRAM

For more information

https://www.federalreserve.gov
/monetarypolicy/main.htm
PAYCHECK PROTECTION PROGRAM

The Paycheck Protection Program Liquidity

Facility (PPPLF) will extend credit to eligible
financial institutions that originate PPP loans
for small businesses, taking the loans as
collateral at face value.
 OTHER ACTIONS BY THE FED

Help state and local governments manage

cash flow stresses caused by the coronavirus
pandemic by establishing a Municipal Liquidity
Facility that will offer up to $500 billion in
lending to states and municipalities.
 NEW YORK STATE UPDATE

On April 12th, Governor Andrew Cuomo issued

Executive Order 202.16 directing employers to
provide essential workers with cloth or surgical
masks free of charge to wear when directly
interacting with the public.
 NEW YORK STATE UPDATE

On April 13th, Governor Cuomo partnered with the

governors of New Jersey, Connecticut,
Pennsylvania, Delaware and Rhode Island (with
Massachusetts joining shortly after) to announce
the creation of a multi-state council to restore the
economy and get people back to work.
JOB POSTINGS FOR LI COMMUNITY

www.newsday.com/joboffers