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...more
6/19/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Federal Reserve ,
Lenders ,
Loan Agreements ,
Main Street Lending Programs ,
Paycheck Protection Program (PPP) ,
Popular ,
Registration ,
Relief Measures ,
Special Purpose Vehicles
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...more
5/6/2020
/ Affiliates ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Federal Reserve ,
Libor ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
SBA ,
SBA Lending Programs ,
Secured Overnight Funding Rate (SOFR) ,
Small Business
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, was signed into law. Among other things, Section 4003 of the CARES Act authorizes $500 billion of liquidity to support businesses,...more
The Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, was signed into law by President Trump on March 27, 2020. A central element of the new law is the authorization of the Secretary of the Treasury, under...more