New Main Street Lending Program FAQ
The Federal Reserve announced changes to the FAQs for the Main Street Lending Program. Importantly, the Federal Reserve has advised that lenders should submit their eligible loans to the Main Street SPV on or before December 14, 2020. Loans submitted after that date are unlikely to be processed in time for purchase by the Main Street SPV. Click here to read the FAQs related to Non-Profit Organizations Click here to read the FAQs related to For-Profit Organizations If your financial institution is interested in discussing the Main Street Lending Program, please contact us at Info@JellumLaw.com by December 1, 2020.
Read moreNew Main Street Lending Program FAQ Update for November 19, 2020
he Federal Reserve announced changes to the FAQs for the Main Street Lending Program: Click here to read the FAQs related to Non-Profit Organizations Click here to read the FAQs related to For-Profit Organizations We expect the Federal Reserve to continue issuing new guidance with respect to the Main Street Lending Program, which we will provide as it becomes available.
Read moreNew Main Street Lending Program FAQ
As part of our practice, we assist lenders with Federal Main Street Lending Program transactions. Recently, the Federal Reserve issued the following: Updated FAQ, click here to read; Lowered the minimum loan size from $250,000 to $100,000 and changed the fee structure for loans with a principal amount of less than $250,000; Overview explaining the core terms of the program and eligibility criteria for non-profit borrowers, click here for more; and, Monthly report dashboard based on usage and geographic distribution, click here to view. We expect the Federal Reserve to continue issuing new guidance with respect to the Main Street Lending Program, which we will provide as it becomes available.
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