Jul 28, 2020 | Firm Overview Articles, Business & Corporate Law News, Nonprofit & Charitable Organizations Law News
The Federal Reserve has released Frequently Asked Questions (FAQs) on the Main Street Lending Program’s expansion to support greater access for nonprofit organizations. Key highlights include: Main Street loans are not forgivable but may be reduced in the event...
Jul 20, 2020 | Firm Overview Articles, Nonprofit & Charitable Organizations Law News
On Friday, the Federal Reserve announced two new loan options under the Main Street Lending Program. The options make loans available to accommodate a wider range of nonprofit organizations that are ineligible for Paycheck Protection Program loans. The minimum...
Jul 7, 2020 | Firm Overview Articles, Business & Corporate Law News
On Monday, July 6, the Federal Reserve Bank of Boston announced that the Main Street Lending Program (MSLP) is now fully operational. The program, established by the Federal Reserve to ease economic stress placed on businesses by the COVID-19 pandemic, allows the...
May 29, 2020 | Firm Overview Articles, Business & Corporate Law News
Over the past week, the Federal Reserve Bank of Boston hosted an “Ask the Fed” webinar with prospective borrowers and lenders, and updated frequently asked questions to refine its guidance on the Main Street Lending Program (“Main Street”). The...
Apr 14, 2020 | Firm Overview Articles, Business & Corporate Law News
Rev. 06/09/20 Key Updates (06/09/2020): On Monday, June 8, the Federal Reserve Board updated its rules for the Main Street Lending Program (“Program”) by lowering the minimum loan amount, raising the maximum loan limit, adjusting the principal repayment...
