The Main Street lending program is a key component of the federal government's response to the economic impact of the COVID-19 pandemic. Implemented and primarily funded by the Federal Reserve, the program is expected to...more
5/11/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
Eligibility ,
Federal Funding ,
Federal Reserve ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Main Street Priority Loan Facility ,
Midsize and Large Business Loans ,
Popular ,
Special Purpose Vehicles
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which became law on March 27, 2020, authorized $349 billion for the Small Business Administration (SBA) to guarantee loans under Section 7(a) of the Small...more
Asset-based lending has historically provided to borrowers a number of benefits that are generally not available under cash flow loans, including lower pricing, a general lack of financial maintenance covenants (other than a...more