News & Analysis as of

EBITDA Paycheck Protection Program (PPP)

Foley & Lardner LLP

Continuing Consolidation in Orthopedic Medicine

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Physician consolidation continued on a robust pace this past year, despite, or maybe because of, the Pandemic. Physician-owned orthopedic practices appear to be no exception to this trend. Interestingly, orthopedic...more

Tonkon Torp LLP

Business Transition Planning In A Pandemic

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It is an open secret that many business owners, no matter how organized, regularly neglect an important task—developing their exit strategy. The right transition plan depends on the nature of the business and the...more

McCarter & English, LLP

Act Now Or Be Exiled From Main Street

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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

King & Spalding

M&A Purchase Price Considerations in the Context of COVID-19

King & Spalding on

Much like everything else in the world, M&A transactions must adjust in order to account for the impact of COVID-19. Arguably the most important feature in any M&A transaction is the purchase price. Set forth below are...more

Fox Rothschild LLP

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

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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

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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

Ruder Ware

The Fed Launches its Main Street Lending Program

Ruder Ware on

The Federal Reserve’s (Fed) $600 billion Main Street Lending Program recently launched the latest of several market interventions aimed at cushioning some of the economic damage wrought by the coronavirus. The program aims to...more

Hinshaw & Culbertson LLP

Federal Reserve Expands Scope of Loan Options and Size of Eligible Businesses Under Main Street Lending Program

On June 8, 2020, the Federal Reserve Board (Board) announced an expansion of the scope and eligibility for its Main Street Lending Program. The Board also issued an updated FAQ for the program on June 9, 2020. Under the...more

Foley & Lardner LLP

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

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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

Ballard Spahr LLP

FRB Boston Releases Main Street Lending Program Documentation and FAQs

Ballard Spahr LLP on

On May 27, 2020, the FRB Boston (the FRB Boston) released form documents and expanded explanatory materials including updated Frequently Asked Questions (the FAQs) for the Main Street Lending Program (the MSLP)....more

Womble Bond Dickinson

Main Street Lending Program Set to Launch - Additional Terms and Guidance Released

Womble Bond Dickinson on

On May 27, 2020, the Federal Reserve Board, through the Federal Reserve Bank of Boston, released additional details for lenders and borrowers interested in participating in the $600 billion Main Street Lending Program (MSLP)....more

Fox Rothschild LLP

Federal Reserve Poised To Open Its Main Street Lending Program

Fox Rothschild LLP on

The Federal Reserve anticipates accepting applications under the Main Street Lending Programs in June and has implied recently that the rollout is imminent. On May 27, 2020, the Federal Reserve Bank of Boston (FRBB) clarified...more

Tarter Krinsky & Drogin LLP

Main Street Loans: How Much May A Company Borrow?

Federal Reserve Chairman Jerome Powell announced on May 19, 2020, before a Senate Committee that the Main Street Lending Program (Program) is anticipated to be launched around the end of May. Prospective borrowers should be...more

Pullman & Comley, LLC

Main Street Lending Program: Summary as of May 20, 2020

Pullman & Comley, LLC on

Federal Reserve Board program announced April 9, 2020: - Intended to assist small and medium sized businesses deal with the economic fallout caused by the COVID-19 pandemic...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

Goulston & Storrs PC

Worst-Case Scenarios: Navigating The ‘What Ifs’ Of Coronavirus

Goulston & Storrs PC on

Before the coronavirus hit, the real estate industry was riding an all-time high. Global CRE investment was at its highest level ever, home building was up, and developers were eager to use the industry’s continued momentum...more

Proskauer Rose LLP

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

Proskauer Rose LLP on

On April 9, 2020, the Federal Reserve announced additional programs under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) to provide up to $2.3 trillion in loans and other investments to support the...more

Chambliss, Bahner & Stophel, P.C.

Important New Highlights of the Main Street Lending Program

Last week, the Federal Reserve updated the terms of its Main Street Lending Program (MSLP) with its first set of guidance to expand the scope of available loan options and the pool of eligible borrowers. You can find our...more

Holland & Hart LLP

Federal Reserve's Main Street Lending Program offers Liquidity to Small and Medium-Sized Businesses

Holland & Hart LLP on

The Board of Governors of the Federal Reserve System (the Fed) recently released terms for its Main Street Lending Program (MSLP), a program authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)...more

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