April 14, 2020
On Thursday, April 9th, the Federal Reserve authorized $2.3 trillion in emergency loan stimulus to help further combat the economic impact of the coronavirus pandemic. The aid package includes $500 billion for state and local governments to deliver critical services during the pandemic. Available funds will arrive in the form of the Fed’s purchase of short-term notes from states, counties, and cities.
States, cities, and counties are eligible for the loan program, subject to review and approval by the Federal Reserve. Important highlights of the stimulus package include:
As additional guidance is issued, your Fedeli team will continue to keep you updated of developments and the impact for you, your business, and your employees.
Have questions or concerns? Let’s talk.