On Monday, June 15, the Federal Reserve officially launched the Main Street Lending Program, a series of loan facilities aimed at supporting small to medium sized businesses combating the coronavirus pandemic. Interested and eligible borrowers are encouraged to contact their lending institutions for additional guidance, including the application requirements.
Officially announced by the Federal Reserve in April 2020, the Main Street Lending Program offers borrowers with 3 credit facility alternatives, depending upon the amount and type of loan, as follows:
- Main Street New Loan Facility
- Main Street Priority Loan Facility
- Main Street Expanded Loan Facility
Tune into our webinar on Thursday, June 18th at 10AM for additional information on this topic. View the invite and register here.
Sax will continue to update you as further details are made available. Reach out to your Sax advisor or email covid19@saxllp.com with questions. For more and on-going information relative to your state and business, visit Sax’s COVID-19 Resource Center.