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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

Proskauer Rose LLP

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

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Fed Releases Updated Frequently Asked Questions for Business and Nonprofit Facilities and Instructions for Lender Required Documentation - On September 18, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”)...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

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

Proskauer Rose LLP

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

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UPDATE: Where is Main Street?—Fed Provides Guidance on the Main Street Lending Program - On June 11, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) released updated information for potential lenders and...more

White and Williams LLP

The Main Street Business Lending Program – Updated Frequently Asked Questions

On May 27, 2020, the Federal Reserve Bank of Boston (FRBB) released a significantly updated set of “Frequently Asked Questions” (Updated FAQs), offering additional insight into the details of the Main Street Business Lending...more

Manatt, Phelps & Phillips, LLP

Main Street Lending Program Expansion Announced

On April 30, the Federal Reserve Board, after receiving more than 2,200 letters in response to a request for feedback on its Main Street Lending Program, announced an expansion of the scope of and eligibility for the program....more

Perkins Coie

Federal Reserve Announces Changes to Main Street Lending Program

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The Federal Reserve Board (FRB) released updated guidance on its Main Street Lending Program (Main Street Program) on April 30, 2020. Authorized under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and...more

White and Williams LLP

The Main Street Business Lending Program – Frequently Asked Questions

On April 30, 2020, the Department of the Treasury and the Federal Reserve Board released a set of “Frequently Asked Questions” (FAQs) relating to the Main Street Business Lending Program (Main Street Program), which was...more

Foley & Lardner LLP

The CARES Act Paycheck Protection Program Intercreditor Considerations for Borrowers and Lenders

Foley & Lardner LLP on

The Paycheck Protection Program (PPP) under Title I of the CARES Act was established on March 27, 2020 to provide financial relief for small businesses adversely affected by COVID-19. The CARES Act initially allocated $349...more

FordHarrison

Fed Announces $2.3 Trillion in Funding to Backstop CARES Act Loans

FordHarrison on

Executive Summary: On Thursday, April 9, 2020, the Federal Reserve announced it was taking additional steps to backstop loans made available through the CARES Act, including the Paycheck Protection Program and the mid-size...more

Kilpatrick

Federal Reserve Announces Creation of New $600 Billion Main Street Lending Program to Facilitate Lending to Small and Medium-Sized...

Kilpatrick on

The Federal Reserve Board (Fed) released this morning the first details of its new Main Street Lending Program, which was authorized in the CARES Act. This was one of nine lending programs simultaneously announced by the Fed,...more

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