On May 20, 2020, the Federal Reserve Bank of New York (the “New York Fed”) released the form of Master Loan and Security Agreement (“MLSA”) that will govern loans issued under its Term Asset-Backed Loan Facility (“TALF”) and...more
8/31/2020
/ Asset-Backed Securities ,
Borrowers ,
Coronavirus/COVID-19 ,
Due Diligence ,
Federal Loans ,
Federal Reserve ,
FinCEN ,
Issuer Eligibility Criteria ,
Master Loan and Security Agreement (MLSA) ,
SBA ,
Securities Exchange Act ,
Special Purpose Vehicles ,
Term Asset-Backed Securities Loan Facility (TALF) ,
Term Sheets
On August 6, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) published an updated set of Frequently Asked Questions for the Nonprofit Facilities (defined below) (“Nonprofit FAQs”) which are part of the Main Street...more
8/18/2020
/ Borrowers ,
CARES Act ,
Eligibility ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Nonprofits ,
SBA ,
Special Purpose Vehicles ,
Term Sheets
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business Administration (the “SBA”) and the U.S Treasury Department (“Treasury”) have issued a...more
8/12/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Paycheck Protection Program Flexibility Act of 2020 (PPPFA) ,
Payroll Taxes ,
SBA ,
Small Business ,
Small Business Loans
Originally published on April 14, 2020. Last updated as of June 24, 2020.
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business...more
UPDATE: Fed Proposes Expansion of Program to Cover Nonprofits -
On June 15, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) announced it was seeking public feedback on its proposal to expand the Main Street...more
6/22/2020
/ Borrowers ,
CARES Act ,
Eligibility ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Nonprofits ,
SBA ,
Special Purpose Vehicles ,
Term Sheets
Originally published on April 14, 2020. Last updated as of June 18, 2020.
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business...more
6/19/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Safe Harbors ,
SBA ,
Small Business ,
Small Business Loans ,
Updated Forms
UPDATE: Where is Main Street?—Fed Provides Guidance on the Main Street Lending Program -
On June 11, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) released updated information for potential lenders and...more
6/15/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
EBITDA ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
New Guidance ,
SBA ,
Small Business ,
Term Sheets
Originally published on April 14, 2020. Last updated as of June 11, 2020.
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business...more
Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business Administration (the “SBA”) and the U.S Treasury Department (“Treasury”) have issued a...more