Overview: Federal Reserve Revises and Clarifies Main Street Lending Program

by Mr. Brian Dolan of Pepper Hamilton LLP

Posted to 11 on 5/5/2020 at 6:07 PM

{"ops":[{"attributes":{"color":"#464646"},"insert":"On April 30, after processing more than 2,200 comment letters to its initial term sheets, the Federal Reserve Board announced new terms that expand the scope and eligibility for the Main Street Lending Program (the Program) and published a set of "},{"attributes":{"color":"#6385ba","background":"#ffffff","link":"https://www.federalreserve.gov/monetarypolicy/files/main-street-lending-faqs.pdf"},"insert":"frequently asked questions"},{"attributes":{"color":"#464646"},"insert":" (FAQs) that provide additional clarification to certain aspects of the Program. The Federal Reserve has not yet published details related to loan participation terms, credit administration or loan servicing and has not yet announced an official launch date for the Main Street Lending Program."},{"insert":"\n\n"},{"attributes":{"color":"#464646"},"insert":"This article includes a summary of the key points from the April 30 announcement."},{"insert":"\n"}]}

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