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
The Federal Reserve recently adjusted the terms of the Main Street Lending Program (MSLP) to better target support to smaller businesses....more
Updated Benefits for Senior Living Facility Owners and Operators - Effective October 30, 2020, the Federal Reserve updated its Term Sheets and Frequently Asked Questions (the “Updated FAQs”) describing the Main Street...more
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
On July 15, 2020, the Federal Reserve published a number of changes to the Main Street Lending Program’s frequently asked questions, which FAQs were amended to provide further guidance on a number of issues. The Federal...more
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
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
On June 8, the Federal Reserve released updated guidance for the Main Street Lending Program. Pillsbury’s Public Policy and Finance teams provide a synopsis of the often-updated program’s eligibility requirements and loan...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
The CARES Act continues to provide crucial financial assistance for small and midsize businesses as well as tax relief for property owners and real estate companies. The Paycheck Protection Program and Health Care...more