U.S. Federal Reserve Board Announces Changes, Provides Guidance on Main Street Lending Program

On April 30, 2020, the U.S. Federal Reserve Board (the “Board”) announced changes to the Main Street Lending Program (“MSLP”), while also providing guidance through an FAQ.  While certain changes broadened the scope and eligibility of MSLP, there were certain changes that further restricted its use. The chart linked below provides the highlights with respect to the changes and guidance and describes the effects of any such changes and guidance on borrowers.

U.S. Federal Reserve Board – Main Street Lending Program – Changes and Guidance Highlights (Apr 30, 2020)