Bloomberg Tax
April 21, 2020, 8:46 AM UTC

Businesses Fearing Exclusion From Fed Loans Push for Change

Colin Wilhelm
Colin Wilhelm
Reporter

A substantial number of businesses may be barred from the $2.3 trillion business-loan program created by Congress and operated by Treasury and Federal Reserve.

The latest economic relief law (Public Law 116-136) authorizes the Fed to extend low interest loans to a variety of businesses. But because of a wrinkle in the law, some businesses organized as S corporations may be excluded from accessing that assistance, highlighting the political tightrope the Trump administration and Congress have to walk in making aid accessible to large employers while ensuring those funds aren’t abused.

Companies that receive assistance under the ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.