Click here for the Italian version
If you are a US based business looking for financial assistance, you may want to explore taking advantage of the Main Street Lending Program (“MSLP”). Foreign owned US based businesses may also take advantage of this program.
The Federal Reserve established the Main Street Lending Program (MSLP) to promote lending to a wide variety of small and medium-sized businesses to help maintain operations and payroll. The MSLP operates through three lending facilities (New Loan Facility, Priority Loan Facility, Expanded Loan Facility) that mainly differ according to loan size and repayment conditions. The Federal Reserve does not extend loans directly to borrowers but through lenders, which include US banks.
The Federal Reserve has already identified the requirements to be met by borrowers and is about to launch the program.
To qualify for an MSLP loan, a borrower, among other things, must certify that it meets at least one of the following two conditions: (i) the borrower has 15,000 employees or fewer, or (ii) the borrower had 2019 annual revenues of $5 billion or less. To determine eligibility, a business’s employees and 2019 revenues are calculated by aggregating the employees and 2019 revenues of the business itself with those of the business’s affiliated entities.
The following are other important features of the program:
The business must be able to make all of the certifications and covenants required under the program.
For any further information
Hanz Giovanni Chiappetta firstname.lastname@example.org
Robert Ian Goodman email@example.com
The information contained in this document is provided for informational purposes only. It should not be construed as business, legal, accounting, tax, financial, investment or other advice on any matter and should not be relied upon for such. The information in this document may not reflect the most current developments as the subject matter may change daily.
LAWTELIER LLP disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this document to the fullest extent permitted by law. Do not act or refrain from acting upon the information contained in this document without seeking legal advice.