The Federal Reserve established the Main Street Lending Program (Program) to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic. The Program will operate through three facilities: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Street Expanded Loan Facility (MSELF).
The Program was designed to help credit flow to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic. Loans originated under the Program have several features and create certain obligations that will be explored during our event, as follows:
- What are the registration requirement for financial institutions
- Differences between the MSNLF, MSPLF, and MSELF Programs
- Who is administering the Program
- Program details (e.g., loan terms, loan sizes, how the loan size is determined and associated issues with the calculations, business size limit)
- Eligibility requirements for the Program
- Differences between the MSNLF, MSPLF, and MSELF ProgramsHow your financial institution can use the program strategically
- What important certifications & covenants are lenders and borrowers required to make under the Program (e.g., eligibility, maximum size, US business requirement, limits on compensation & distributions, etc.)
Many other issues and details of the program will be discussed and explored during the event. We welcome you to join us and learn from the experts about this very critical government sponsored program.
Please mark your calendar for an interactive panel discussion: