The Main Street Lending Program is Now Operational for Loans to Nonprofit Organizations

September 8, 2020

By: Anna W. Richards and Jeffrey B. Scheer

The Federal Reserve Bank of Boston announced on Friday that the Main Street Lending Program is now fully operational and is accepting submissions of eligible loans to nonprofit organizations, submitted by eligible lenders.

The Main Street Lending Program offers loans to small and medium sized for-profit businesses and nonprofit organizations that were in sound financial condition prior to the COVID-19 pandemic.

The Main Street Lending Program’s facilities for for-profit businesses have been operational since July 6, 2020.

For an overview of the Main Street Lending Program, please read our prior information memos here and here

The attorneys at Bond, Schoeneck & King can help by answering your questions regarding the Main Street Lending Program and whether your business or nonprofit organization meets the Program’s eligibility criteria. Please contact Jeffrey B. Scheer, any of the attorneys in the Business and Transactions practice or the attorney at the firm with whom you are regularly in contact.