AHA comments on proposed Main Street Lending Program for nonprofits

Jun 22, 2020 - 02:33 PM
AHA-comment-letter-tax-plan

The Department of the Treasury and Federal Reserve proposal to expand the Main Street Lending Program to nonprofit organizations, as advocated by AHA, has the potential to satisfy loan assistance needs for health care organizations ineligible for Paycheck Protection Program loans or for which PPP loan maximums are insufficient, the association said in comments submitted today.

However, the letter proposes changes to the proposed loan facility term sheets “focused on increasing the possibility that hospitals around the country can make use of this potentially vital loan facility and on easing the daunting conditions imposed on hospitals in the midst of a public health crisis with devastating financial effects.” 

For more on the proposal, see the recent AHA Special Bulletin.

Related News Articles

Headline
CDC report finds COVID-19 vaccine for children reduced chances of ED, urgent care visits
The Centers for Disease Control and Prevention Dec. 11 released a report that found last year’s version of the COVID-19 vaccine was 76% effective in preventing…
Headline
AHA responds to FDA request for information on AI-enabled medical devices
The AHA provided recommendations to the Food and Drug Administration Dec. 1 in response to a request for information on the measurement and evaluation of…
Headline
Permanent recall issued for Baxter ventilation system
The Food and Drug Administration has identified a Class I recall of Baxter Life2000 Ventilation Systems due to a cybersecurity issue discovered through…
Headline
CDC data shows rise in flu, COVID-19 cases across states 
Flu cases are growing or likely growing in 39 states, according to the latest Centers for Disease Control and Prevention data from Nov. 11. COVID-19…
Headline
Recall issued for mislabeled potassium chloride
The Food and Drug Administration yesterday published an announcement from Otsuka ICU Medical saying that the company issued a voluntary recall for a mislabeled…
Headline
Study finds flu, COVID-19 infection temporarily raises risk of heart attack, stroke 
A study published Oct. 30 by the American Heart Association found that people have an elevated risk of heart attack and stroke following flu and COVID-19…