Two-thirds of builders cited a glass shortage for windows, shower doors, etc. The supply problem? A lot of it is manufactured in China, Mexico and India.ORLANDO, Fla. – Glass
Fed Issues $2.3 Trillion Stimulus; More SBA Loans May Be on the Way ☘ Hoey Team ☘ eXp Realty
Dated: April 11 2020
The Federal Reserve announced on Thursday that it will invest up to $2.3 trillion more to propel the economy through the COVID-19 outbreak. The extra funding includes more money—up to $600 billion—for loans to aid small and mid-sized businesses.
The Fed also announced a facility to purchase forgivable loans issued to small or mid-sized businesses under the Paycheck Protection Program. The program is aimed at small businesses that have been affected by the COVID-19 outbreak.
Several lenders reportedly had stopped approving loans under the previous $349 billion effort after reaching internal caps, American Banker reports. Several banks said Thursday that the Fed’s facility will allow them to accept more applications.
“This opens up more liquidity for us to process more loans,” Todd Nagel, CEO of IncredibleBank in Wausau, Wis., told American Banker. Nagel says his firm has more than 1,000 applications waiting to go through.
The Fed also announced it would open a “Main Street Lending Facility” to provide four-year loans to struggling businesses with up to 10,000 employees or less than $2.5 billion in annual revenue that had been on previously solid ground prior to the outbreak.
Also on Thursday, the Fed announced additional funding toward the purchases of some types of high-yield bonds, collateralized loan obligations, and commercial mortgage-backed securities.
“We will continue to use these powers forcefully, proactively, and aggressively until we are confident that we are solidly on the road to recovery,” Jerome Powell, chair of the Federal Reserve, said in a speech Thursday announcing the latest measures. “The Fed’s role is to provide as much relief and stability as we can during this period of constrained economic activity, and our actions today will help ensure that the eventual recovery is as vigorous as possible.”
Article content from our National Association of REALTORS (NAR) Newsletter Magazine, and from other sources including Hoey Team ☘
On this page we are adding a list of Vendors for COVID-19 related items here in SWFL. Please let us know if there is a Vendor / Store we should add: www.VisitCollier.Com Feel free to share with anyone looking.
NOTE for Buyers and Sellers: On our "VIRUS FREE" Hoey Team ☘ VIRTUAL OPEN HOUSE Page you may WATCH ? Detailed HD 3D Immersive VIDEO ? Walkthrough Tours for all our COMING to MLS & AVAILABLE LISTINGS without any Coronavirus; COVID-19 worries right HERE: ? www.SWFLVRE.com ? ?
For more Real Estate related information as we go throught this COVID-19 experience, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number 1 state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know.
P.S. --> If You'd like for me to create a regular Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details. We can visit the property and record you a video, or, if you want, we can do a one on one Facebook Live Showing: https://barryhoey.exprealty.com/
Hope Everyone Remains Safe; we are all in this together; and we trust that we will get through this Coronavirus COVID-19 pandemic more united, as one, with as little loss as possible.
Please let Kim or Barry know if we can do anything to help anyone in need here in Southwest Florida, weither it is for you or for a loved one, and we are able to help in a responsible social distncing way, we will certainly do what we can to help.
Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website. ☘
We hope that you find the information useful. If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team ☘ brokered by eXp Realty
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