Originally published on May 4, 2020. Last updated as of February 19, 2021.
The Main Street Lending Program terminated on January 8, 2021. This client alert describes the main terms, issues and open questions for each of the five separate loan facilities which were available to eligible businesses and nonprofits under the program, and an update regarding post-termination FAQs posted by the Boston Fed.
* * *
Proskauer’s cross-disciplinary, cross-jurisdictional Coronavirus Response Team is focused on supporting and addressing client concerns. We will continue to evaluate the CARES Act, related rules and regulations and any subsequent legislation to provide our clients guidance in real time. Please visit our Coronavirus Resource Center for guidance on risk management measures, practical steps businesses can take and resources to help manage ongoing operations.