News & Analysis as of

EBITDA Main Street Expanded Loan Facility

McCarter & English, LLP

Act Now Or Be Exiled From Main Street

McCarter & English, LLP on

The window for the Main Street Loan Program (“Main Street Program”), designed to provide loans with favorable terms to midsize companies to help address the economic fallout caused by the pandemic, is closing on December 31,...more

Buchalter

Buchalter COVID-19 Client Alert: Federal Reserve Announces Main Street Lending Program Will Accept Multi-Borrower Loans and Issues...

Buchalter on

On September 18, 2020, the Federal Reserve issued new Frequently Asked Questions (FAQs) for its Main Street Lending Program (MSLP). Separate FAQs for the MSLP’s three for-profit programs (the Main Street New Loan Facility...more

Fox Rothschild LLP

Main Street 101 – What Businesses Need To Know About The Main Street Lending Program

Fox Rothschild LLP on

The now-operational Main Street Lending Program (MSLP) provides opportunities for low-interest, federally subsidized loans for businesses with 15,000 or fewer employees and up to $5 billion in revenue in 2019. However,...more

Pillsbury Winthrop Shaw Pittman LLP

Fed Updates its Guidance for the Main Street Lending Program

The update generally provides further clarifications to existing guidance, but one change regarding the Expanded Loan Facility could enable eligible borrowers to access additional funding that was previously unavailable to...more

Proskauer Rose LLP

Where is Main Street?—Fed Provides Guidance on the Main Street Lending Program - July 2020

Proskauer Rose LLP on

Originally published on May 4, 2020. Last updated as of July 10, 2020. The Federal Reserve Bank of Boston recently published information in anticipation of the launch of the Main Street Lending Program under the CARES Act,...more

Lowenstein Sandler LLP

Main Street Lending Program–Launch Update

Effective July 6, 2020, the Federal Reserve Bank of Boston announced that the “Main Street Lending Program” is now fully operational and ready to begin purchasing commitments from eligible lenders. After months of periodic...more

Schwabe, Williamson & Wyatt PC

Overview of the Main Street Lending Program

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

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Agricultural Industry - Update #3

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

Schwabe, Williamson & Wyatt PC

CARES Act Questions for the Manufacturing, Distribution and Retail Industry - Update #5

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

Foley & Lardner LLP

CARES Act – Federal Reserve Main Street Loan Facilities - Updated June 12, 2020

Foley & Lardner LLP on

The Main Street Lending Program, authorized under the CARES Act and Section 13(3) of the Federal Reserve Act, is designed to provide financial assistance to small and medium sized businesses. There will be three Main Street...more

McGuireWoods LLP

Federal Reserve Tweaks Terms of Main Street Lending Program Ahead of Launch

McGuireWoods LLP on

On June 8, 2020, the Federal Reserve released updated term sheets and guidance for the Main Street Lending Program (MSLP). The MSLP is designed to provide support to small and medium-sized businesses and their employees...more

Pillsbury Winthrop Shaw Pittman LLP

Fed Expands and Enhances Main Street Lending Program

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

Buchalter

Buchalter Covid-19 Client Alert: Federal Reserve Expands Main Street Lending Program; Reduces Some Minimum Loan Amounts, Raises...

Buchalter on

On June 8, the Federal Reserve announced a number of changes to the Main Street Lending Program (“MSLP”), involving all three facilities, the Main Street New Loan Facility (“MSNLF”), the Main Street Priority Loan Facility...more

Perkins Coie

The Federal Reserve’s Main Street Lending Program: What Borrowers Need to Know

Perkins Coie on

This update amends our prior publication on May 4, 2020, titled Federal Reserve Announces Changes to Main Street Lending Program and contains new information based on additional guidance provided by the Federal Reserve on May...more

Pillsbury Winthrop Shaw Pittman LLP

The Main Street Lending Program: Additional Guidance for Lenders

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

Fenwick & West LLP

Federal Reserve Board Updates Terms for Pandemic-Relief Loans

Fenwick & West LLP on

The Federal Reserve Board has updated the terms of the previously announced Main Street New? Loan Facility (MSNLF) and Main Street Expanded Loan Facility (MSELF) and created a third type of loan, the Main Street Priority Loan...more

Lowenstein Sandler LLP

Major Updates to Main Street Lending Program

Certain provisions of the coronavirus economic stimulus legislation are subject to the ongoing issuance of government regulations and other government action; thus, certain details regarding the legislation may be clarified,...more

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