On June 8, the Federal Reserve released updated guidance for the Main Street Lending Program.
Pillsbury’s Public Policy and Finance teams provide a synopsis of the often-updated program’s eligibility requirements and loan...more
On June 15, the Federal Reserve proposed to expand the Main Street Lending Program to benefit small and medium-sized nonprofits and released term sheets for public comment.
Our chart summarizes the proposed expansion,...more
Larger loans available, and more small and medium-sized businesses may qualify for support with new changes to minimum loan amounts and amortization schedule.
Minimum loan amounts reduced and maximum loan amounts increased...more
Banks considering lending under the Main Street Lending Program should take note of additional guidance issued by the Federal Reserve Bank of Boston.
Eligible Lenders have the option to condition their funding of a Main...more
Companies that may want to borrow under the Main Street Lending Program should take note of additional guidance recently issued by the Federal Reserve Bank of Boston.
The Federal Reserve Bank of Boston has issued further...more
6/2/2020
/ Borrowers ,
Certifications ,
Federal Reserve ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA ,
Small Business Loans
In response to public input, loan options under the Main Street Lending Program have increased and eligible businesses expanded.
The pool of businesses eligible to borrow has been expanded....more
Additional corporate credit facilities under the CARES Act for corporate debt and corporate bonds issued by eligible issuers.
Treasury will provide $75 billion in equity to the PMCCF and SMCCF.
...more
4/24/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Corporate Bonds ,
Debt Instruments ,
Federal Reserve ,
FRBNY ,
Primary Market Corporate Credit Facility (PMCCF) ,
Relief Measures ,
Secondary Market Corporate Credit Facility (SMCCF) ,
SPVs ,
U.S. Treasury
The new facility will address the credit needs of consumers and businesses affected by COVID-19 with facilitated issuance of asset-backed securities.
The Federal Reserve will make available up to $100 billion of...more