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The Federal Reserve Bank of Boston announced on July 6, 2020, that the Main Street Lending Program (“Main Street Program” or “Program”) is now fully operational and ready to purchase participation in eligible loans that are...more
Congress recently passed the economic stimulus package referred to as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act1”), the Paycheck Protection Program and Health Care Enhancement Act (“PPPHCE Act”),...more
On June 15, 2020, the Federal Reserve announced the launch of its Main Street Lending Program (“Main Street Program” or “Program”) under the CARES Act. This Program was created to provide up to $600 billion in liquidity to...more
The Federal Reserve Bank of Boston announced the opening of the Lender Registration portal for the Main Street Loan Program on June 15, 2020. Lenders can start the registration process at the program’s lender portal by...more
On June 8, 2020, the Federal Reserve Bank of Boston, the administrator of the Federal Reserve’s Main Street Lending Program, released updated term sheets for the three types of loans, “New,” “Priority” and “Expanded,” that...more
On May 27, 2020, the Federal Reserve Bank of Boston (FRBB) released several forms, agreements and instructions (Required Documentation) for Eligible Lenders and Eligible Borrowers pertaining to the Main Street Business...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