Federal Reserve Publishes Initial Listing of Lenders Accepting New Business Customers Under the Main Street Lending Program

The Federal Reserve of Boston has published a state-by-state listing of lenders participating in the Main Street Lending Program who are currently accepting applications from new business customers, and also elect to be listed. The Listing of Lenders Accepting New Business Customers can be viewed here. The Federal Reserve has stated that this listing will …

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Federal Reserve Announces that the Main Street Lending Program is Fully Operational

On July 6, 2020, the Federal Reserve of Boston announced in a press release that the Main Street Lending Program is now fully operational and that the Federal Reserve’s special purpose vehicle is ready to start purchasing participations in loans made under the Program. It also announced its intention to publish in the coming days …

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Federal Reserve Main Street Lending Program Update: Open for Lender Registration

  On June 15, 2020, the Federal Reserve’s Main Street Lending Program opened for Lender registration. This is the last administrative step prior to opening the program to business borrowers. A press release from the Federal Reserve Bank of Boston on the subject is here. The Main Street Lending Program is designed to provide small and medium-sized businesses …

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Federal Reserve Expands the Main Street Lending Program

In an effort to allow more small and medium-sized businesses to be able to receive support under the Main Street Lending Program, on June 8, 2020, the Federal Reserve made several changes to the Program. The Federal Reserve stated that it expects the Program to be open for lender registration soon and to be actively …

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Federal Reserve Provides Additional Guidance on the Main Street Lending Relief Program: Program Slated to Commence in the Near Term 

On May 27, 2020, the Federal Reserve Bank of Boston issued additional guidance, forms of borrower and lender certifications, forms of participation agreements and related agreements in connection with the Main Street Lending Program. No official launch date was announced for the Program, but it has been widely reported that the launch is imminent. The …

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The Federal Reserve Main Street Lending Program

    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 …

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Federal Reserve Bank Unveils $2.3 Trillion Plan to Bolster Economy

By: Matthew L. Mitchell On April 9, the Federal Reserve announced an expansive relief strategy to aid small and mid-sized businesses and municipalities with plans to develop $2.3 trillion in economy-boosting programs. Within this plan, the Fed also announced an intent to fund new and expanded “Main Street Lending Facilities”, a program designed to provide …

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