Reply to Pelosi unveiling House plan @ 2pm, posts some details

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[quote=Anonymous]Small business relief:

-The Fed to establish and manage a Small Business credit facility to provide loans to any small business affected. "Small business" defined as "(A) a small business concern (as defined 7 under section 3 of the Small Business Act (15 8 U.S.C. 632); (B) a family farm; (C) an independent contractor; and (D) any other class of businesses to which the Board of Governors determines loans would promote full employment and price stability." Note - in my view, it looks like the Fed has full flexibility to design and set the amount of loans available, Congress is delegating.
-US Treasury to give 0% loan to small businesses equal to its January 2020 one month revenue; loan will be forgiven if head count declines within 1 year (ie, business does not recover); loans funding up to $50B total
-Suspension of small business loan payments - no capitalizing interest, adding fees, send to collections, negative credit reports, triggering higher interest rate until 120 days after end of crisis[/quote]

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