On May 20, 2021, Senator John Hickenlooper introduced four bills in Congress to help underserved individuals, communities, and small businesses, including the Capital for Cooperatives Act (S.1736) (the “Act”). The Act would amend lending criteria for certain Small …
Federal FInancing
American Rescue Plan and Broadband
In March 2021, Congress approved $1.9 trillion under the American Rescue Plan Act (“Act”), which included emergency funding to respond to the pandemic and its economic impact. In May 2021, the Treasury Department released the Interim Final Rule[1]…
CARES ACT – Cooperative Eligibility
The CARES Act included economic stimulus packages of $349 billion for Paycheck Protection Program (PPP) Loans and modified the existing Economic Injury Disaster Loan (EID) program for companies impacted by COVID-19. Further, in addition to small businesses that continued to …
RUS’s New Digital Data Collection System
The Rural Utilities Service (RUS) has transitioned from forms-based data submission to digital submission. RUS has created a short guide explaining the change for electric and telephone borrowers. From RUS:
All RUS year-end financial and operating reports for Electric Borrowers