This article was updated on July 29, 2020. Further updates will be made as new information becomes available.
Schneider Downs continues to track the evolving landscape of federal financial programs offered in the wake of the business disruption caused by the COVID-19 pandemic.
On July 28, the Federal Reserve announced an extension of its lending facilities from September 30, 2020 to December 31, 2020. The extension applies to the Main Street Lending Program (Main Street).
According to the Federal Reserve, the three-month extension of its lending facilities will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available to help the economy recover from the COVID-19 pandemic.
For more information on the Main Street Lending Program, please see Schneider Downs’ previous Our Thoughts On articles:
Main Street Loan Modifications for Not-for-Profit Organizations
Another Expansion of the Main Street Lending Program
Main Street Lending Program –FAQs Part 1
Main Street Lending Program –FAQs Part 2
If you have other questions regarding the Main Street program, reach out first to your bank and other lenders to see if you can apply for Main Street funding through them. If you need more information, please reach out to any of your connections at Schneider Downs or contact Joel Rosenthal at [email protected].
