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The Vault

June 16, 2020

Main Street Lending Program Update

By Jonathan H. Talcott, E. Peter Strand, Mike Bradshaw, Nick Garifo, Kaylen Loflin

The Federal Reserve began accepting lender applications to participate in the Main Street Lending Program (the “Program”), which is a lending program intended to provide liquidity to small and medium-sized businesses with 15,000 or fewer employees or $5 billion or less in 2019 revenue. See our prior client alerts for general information about the Programspecific information on prior revisions to the terms of the Programinformation on recent guidance from the Federal Reserve Bank of Boston and news on the expansion of the Program. This presentation describes the Program in detail, and this cheat sheet provides a high-level summary of the Program.

The Federal Reserve began lender registration and is expected to begin buying loan participations soon. Term sheets for each of the facilities can be found at the following links: New Loan FacilityPriority Loan Facility, and Expanded Loan Facility.

For more information, please feel free to contact:

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