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
The Main Street Lending Program (MSLP) was established by the Treasury Department with $75 billion from the CARES Act to enhance access to credit for small and medium-sized businesses during the COVID-19 pandemic which were...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 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
On June 8, 2020, the Federal Reserve published a press release that expanded certain terms under its Main Street Business Lending Program (Main Street Program) in an effort to make the Main Street Program more accessible to...more
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
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