New Federal Reserve Guidance For The Main Street Lending Program
Published by
Laura Sprouse
on
MAY 4, 2020
On April 30, 2020, The Federal Reserve issued further guidance and eligibility requirements surrounding its Main Street Lending Program (MSLP), which was first announced on April 9.
There are some notable changes to the MSLP include the following:
- Creation of a third loan option, the Main Street Priority Loan Facility (MSPLF), requiring increased risk sharing by lenders for borrowers who are more leveraged.
- Decreasing the minimum loan size for some programs to $500,000.
- Offering more options to a wider set of eligible small and medium-size businesses who may qualify.
Click the link to the newsletter below to learn more about the loan details as well as eligibility criteria.