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MDMA Leading Industry Efforts to Secure Liquidity, Resources as the Impact of COVID-19 Increases

Thursday, April 2, 2020  
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MDMA Leading Industry Efforts to Secure Liquidity, Resources as the Impact of COVID-19 Increases

 

MDMA recently urged the Department of Treasury and the Federal Reserve to efficiently and effectively implement the “Main Street Business Lending Program” which was included in the “CARES Act.”  This program is designed to complement the Payroll Protection Program (PPP), helping companies that do not qualify for that program, but also are seeking resources to address the impact of COVID-19.

MDMA highlighted how critical it is to provide needed liquidity to small and medium sized businesses adversely impacted by the COVID-19 pandemic, and we noted that the federally directed deferral of all elective procedures is resulting in significant cash flow interruptions for health care providers and the companies that manufacture and supply the products they utilize during those surgeries and procedures.

In our letter we urged the Treasury to adopt several recommendations to ensure that appropriate funds would be available in a timely fashion and that any loans would fall outside of existing debt covenants.  You can read the full letter by CLICKING HERE.