Where is Main Street? The Federal Reserve Provides Guidance on the Main Street Lending Program (Updated)

UPDATE: Where is Main Street?—Fed Provides Guidance on the Main Street Lending Program -

On June 8, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) released information for potential lenders and borrowers in anticipation of the launch of the Main Street Lending Program (the “Program”), including updated Frequently Asked Questions (the “FAQs”) (see here) and updated Program term sheets (the “Term Sheets”, see here, here and here). On May 27, 2020, the Boston Fed released borrower certifications and covenants (“Borrower Certifications”), lender certifications and covenants (“Lender Certifications”), a form loan participation agreement, and other legal documents related to the Program.

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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.

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