News & Analysis as of

Nonprofit Organization New Loan Facility (NONLF)

Morgan Lewis

Federal Reserve’s Main Street Lending Program Throws Lifeline to Nonprofits (UPDATED)

Morgan Lewis on

Nonprofit organizations are on the front lines in the battle against the coronavirus (COVID-19), but they also number among the many victims of COVID-19’s devastating financial impact. In response, the Federal Reserve...more

Foley Hoag LLP

MSLP Nonprofit Organization Loan Facilities

Foley Hoag LLP on

On September 4, 2020, the Board of Governors of the Federal Reserve System (the “Fed”) announced that the Main Street Lending Program (MSLP) is now accepting eligible loans to nonprofit organizations from registered lenders...more

Adler Pollock & Sheehan P.C.

Federal Reserve Announces Opening Of The Nonprofit Organization New Loan Facility And Nonprofit Organization Expanded Loan...

On September 4, 2020, the Federal Reserve Bank of Boston (the “Reserve Bank”) announced that the Main Street Lending Program’s Nonprofit Organization New Loan Facility (the “NONLF”) and Nonprofit Organization Expanded Loan...more

Jackson Walker

CARES Act Update – Overview of Expanded Main Street Lending Program

Jackson Walker on

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides emergency economic stimulus to small businesses and certain eligible recipients in response to the economic distress caused by the COVID-19 pandemic. The...more

Adler Pollock & Sheehan P.C.

Federal Reserve Releases Amended Form Documents For Its Main Street Lending Program To Accommodate Nonprofit Lending Facilities

On July 31, 2020, the Federal Reserve Bank of Boston (the “Reserve Bank”) released amended form documents and certifications (the “Form Documents”) for the Main Street Lending Program (the “Program”) to accommodate the...more

Morgan Lewis

Federal Reserve’s Main Street Lending Program Throws Lifeline to Nonprofits

Morgan Lewis on

Nonprofit organizations are on the front lines in the battle against the coronavirus (COVID-19), but they also number among the many victims of COVID-19’s devastating financial impact. In response, the Federal Reserve...more

Foley & Lardner LLP

Fed Main Street Loan Facilities Extended until December 31, 2020 and Expanded to Nonprofits

Foley & Lardner LLP on

On July 17, 2020, the Federal Reserve Bank of Boston released updated terms sheets for two types of loan facilities for nonprofits under the Main Street Lending Program (“MSLP”). Similar to the for-profit facilities, the...more

Buchalter

Buchalter COVID-19 Client Alert: Main Street Lending Program: Federal Reserve Posts Amended Transaction Documents and Frequently...

Buchalter on

On July 31st the Federal Reserve posted amended versions of a number of Main Street Lending Program (MSLP) transaction documents, including the Frequently Asked Questions (FAQs) and Term Sheets for MSLP. Many of the changes...more

Hinshaw & Culbertson LLP

Main Street Lending Program Expanded for Nonprofit Organizations

The Main Street Lending Program has been modified by the Federal Reserve Board (Board) to provide new access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations....more

Gould + Ratner LLP

Main Street Lending Program Now Provides Opportunities for Nonprofits

Gould + Ratner LLP on

Nearly three months after its initial announcement, on June 15, 2020, the Federal Reserve launched its Main Street Lending Program (MSLP), offering additional support for small and mid-size businesses struggling as a result...more

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