The Federal Reserve announced a series of upcoming webinars and drop-in sessions for potential Main Street Lending Program (MSLP) borrowers. The sessions will be on May 29 and June 3.
This webinar is an opportunity for potential borrowers to learn more about the program and ask questions to senior officials from the Federal Reserve. To allow as many potential borrowers to participate as possible, each business is asked to register no more than two representatives for the live session. A recording of the session will be available shortly after the call.
Interested participants are encouraged to review the program term sheets and frequently asked questions prior to the session.
You may sign up for email alerts about the MSLP by visiting the program’s operations website and scrolling down to the middle of the page.
The MSLP supports small and medium-sized U.S. businesses and their employees during this period of financial strain by giving these businesses access to additional credit. The program is intended to help companies that were in sound financial condition prior to the onset of the COVID-19 pandemic maintain operations and payroll until conditions normalize.
U.S. businesses may be eligible for loans if they meet either of the following conditions: (1) the business has 15,000 employees or fewer; or (2) the business had 2019 revenues of $5 billion or less. Loans issued under the MSLP would have a four-year maturity, and principal and interest payments on the loans will be deferred for one year