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CARES ACT – Additional Funding: MAIN STREET LENDING PROGRAM

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On April 30, 2020, the Federal Reserve issued updated guidance related to the Main Street Lending Program, which was originally announced on April 9th, and offers $600 billion of new financing for small and medium sized businesses. While this guidance did begin to answer many questions related to this program, we still await detail from the Federal Reserve regarding eligibility, particularly to the borrower’s financial condition prior to the program. Additionally, it is unclear as to when exactly this program will become operational.

Please click on the link below to learn more about this important program.

COVID19 Main Street Lending Program – May 2 v2

 

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