The Main Street Lending Program is designed to help credit flow to small and medium-sized businesses that were in sound financial condition prior to the COVID-19 pandemic but now face cash flow interruptions.
The Main Street Lending Program, administered by the Federal Reserve Bank of Boston, intends to purchase 95% of each eligible loan that is submitted to the program, provided that the required documentation is complete and the transactions are consistent with the relevant Main Street facility's requirements. The Main Street Lending Program will also accept loans that were originated under the previously announced terms, if funded before June 10, 2020.
To participate in the program, lenders must register using the lender portal, which provides secure access and verification, and promotes the resilience of the program.
Business borrowers must apply for the program loans through a participating lender. Information for borrowers is available on the program website.Main Street Lending Program Website