Main Street Lending Program Update

Nelson Mullins Riley & Scarborough LLP

The Federal Reserve began accepting lender applications to participate in the Main Street Lending Program (the “Program”), which is a lending program intended to provide liquidity to small and medium-sized businesses with 15,000 or fewer employees or $5 billion or less in 2019 revenue. See our prior client alerts for general information about the Program, specific information on prior revisions to the terms of the Program, information on recent guidance from the Federal Reserve Bank of Boston and news on the expansion of the Program. This presentation describes the Program in detail, and this cheat sheet provides a high-level summary of the Program.

The Federal Reserve began lender registration and is expected to begin buying loan participations soon. Term sheets for each of the facilities can be found at the following links: New Loan Facility, Priority Loan Facility, and Expanded Loan Facility.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Nelson Mullins Riley & Scarborough LLP | Attorney Advertising

Written by:

Nelson Mullins Riley & Scarborough LLP
Contact
more
less

Nelson Mullins Riley & Scarborough LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.