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Articles by Alexander J. Warents
U.S. Federal Reserve Launches Main Street Lending Program by Opening Lender Registration and Updates Loan and Participation Documentation | JD Supra
On June 15, 2020, the Federal Reserve launched the highly anticipated Main Street Lending Program by announcing that the program is open for lender registration and encouraged lenders to begin making program loans to small and medium-sized businesses immediately. Participation by the Federal Reserve is expected to begin “soon.”1 This follows the release of updated forms of many of the documents that establish the legal architecture of the program.
U.S. Federal Reserve Further Expands Main Street Lending Program To Offer Support To More Small And Medium-Sized Businesses
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Legal Update: U.S. Federal Reserve Launches Main Street Lending Program by Opening Lender Registration and Updates Loan and Participation Documentation | LexBlog
On June 15, 2020, the Federal Reserve launched the highly anticipated Main Street Lending Program by announcing that the program is open for lender registration and encouraged lenders to begin making program loans to small and medium-sized businesses immediately. Participation by the Federal Reserve is expected to begin “soon.” This follows the release of updated forms of many of the documents that establish the legal architecture of the program.
U.S. Federal Reserve Expands and Provides Additional Details on Main Street Lending Program for Small and Mid-Sized Businesses
On April 30, 2020, the Federal Reserve Board announced expanded loan offerings and terms for the forthcoming Main Street Lending Program. Among other changes, Main Street is now open to larger businesses with up to 15,000 employees or $5 billion in 2019 annual revenue (previously up to 10,000 employees or $2.5 billion in 2019 annual revenue). The minimum size of certain loans was also reduced to $500,000 from $1 million to help provide assistance to smaller businesses.
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