The Federal Reserve Bank of Boston (Reserve Bank) announced changes to the Main Street Lending Program (Program) to allow more small and medium-sized businesses to be able to participate in the Program. The changes are summarized below.
New Loans and Priority Loans
The Reserve Bank’s press release also noted that lenders, after registering for the Program, are “encouraged to begin making Main Street loans immediately.” The Federal Reserve also stated that the Program will also accept loans that were originated under the previously announced terms, if funded before June 10, 2020.
Tarter Krinsky & Drogin is ready to assist to clients with Program loans and other U.S. government programs. The above summary is current as of June 9, 2020.
Attorney Advertising. The information contained in this Legal Alert provides a general summary of the topics covered and is not intended to be and should not be relied upon as legal advice. You should consult with your legal counsel for advice and before making legal, business or other decisions.
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