More information is coming to light about the Main Street Lending Program, an initiative to facilitate lending to small and mid-sized businesses. Interest in the program, which was expanded by coronavirus legislation, has been stymied while the Federal Reserve (the Fed) worked out some of the logistical details, including recommendations for term sheets. On June 15, more of those details emerged including opening the lender registration for the program, and so activity may finally be picking up.
Review on How it Works
Current Expansion Coverage
Potential Nonprofit Credit Extension
Differences from the Payroll Protection Program and Other Considerations
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James (Jake) McDonald is a Director in the Philadelphia office of CBIZ MHM, LLC. He can be reached at 610.862.2202 or firstname.lastname@example.org.
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