Main Street Lending Program
Main Street Lending Program
This program is now closed.
Under the Federal Reserve Act and U.S. Treasury and Federal Reserve Board, the Main Street Lending Program consists of the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF) and the Main Street Expanded Loan Facility (MSELF). Main Street loans are intended to facilitate lending to small and medium-sized businesses that are not eligible for the SBA Paycheck Protection Program. Principal and interest payments will be deferred for one year. The Main Street Lending Program loans are not eligible for loan forgiveness. A borrower may only participate in one of the loans under the Main Street Lending Program.
Main Street Lending Program guidelines
Who is an eligible borrower?
- Up to 15,000 employees
- Up to $5 billion in 2019 annual revenues
- U.S.-based businesses
Who is an eligible lender?
- U.S. insured depository institutions
- U.S. bank holding companies
- U.S. savings and loan holding companies
Main Street New Loan Facility
What are the loan terms?
- 4 years
- Minimum loan size: $500,000
- Maximum loan size: up to $25 million or an amount that, when added to outstanding and undrawn available debt, does not exceed 4.0x adjusted 2019 EBITDA
- 5 percent risk retention
Main Street Expanded Loan Facility
What are the loan terms?
- 4 years
- Minimum loan size: $10,000,000
- Maximum loan size: up to $200M, 35% of existing outstanding and undrawn available debt, or an amount that, when added to outstanding and undrawn available debt, does not exceed 6.0x adjusted 2019 EBITDA
- 5 percent risk retention
APPLICATIONS ARE NOW CLOSED.