The Federal Reserve Main Street Lending Program

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On April 30, 2020, the Federal Reserve released additional details concerning the proposed Main Street Lending Program. The release includes changes to the original term sheets for the Main Street New Loan Facility (MSNLF) and the Main Street Expanded Loan Facility (MSELF) and introduced a new term sheet for the Main Street Priority Loan Facility (MSPLF). The Federal Reserve also issued a revised Main Street Lending Frequently Asked Questions document, which includes the term sheets.

The Program is not yet finalized and additional changes may be forthcoming. Tim Manning and David Dinwoodey summarize some of the key terms of the MSNLF, MSELF, and MSPLF in our COVID-19 Alert.