Main Street Lending Program Webinar
The Federal Reserve has announced that it is establishing a Main Street Lending Program to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 Pandemic. The Program will operate through three facilities: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Street Expanded Loan Facility (MSELF). This new tool, aimed at mid-market businesses, provides low-interest access to capital for those organization in need. Participating lending institutions are gearing up to administer this for qualified companies.
On June 11, Barbra Barnett and Annie McBride from Stone Pigman and Gary Anderson and Chris Reid from Cardinal Capital discussed the recent developments for this commercial finance tool during the Main Street Lending Program webinar. A recording of this one-hour informational webinar can be found here.