Resources

Main Street Lending Program: Learn How to Secure Additional Liquidity for Your Business from This Federal Reserve Program

May 13, 2020

Dykema BDO and TCF

Learn how to take advantage of the recently updated and expanded Federal Reserve Main Street Lending Program

The Federal Reserve is leveraging funds provided by Treasury’s Exchange Stabilization Fund under the CARES Act to provide up to $600 billion for loan purchases under the Main Street Lending Programs targeted at mid-sized businesses (15,000 employees or fewer or 2019 revenues of $5 billion or less).

On April 30, 2020, in response to public input, the Federal Reserve announced it was expanding the loan options available to businesses under the Main Street Lending Program and published a related FAQ. This announcement, which follows the Federal Reserve’s initial April 9, 2020 announcement, included the following changes:

  • increased the maximum size of businesses that are eligible for support under the program;

  • created a new third loan option, with increased risk sharing by lenders for borrowers with greater leverage;

  • lowered the minimum loan size for certain loans to $500,000; and

  • expanded the pool of businesses eligible to borrow.

Register now for this informative webinar featuring insights and thought leadership from Dykema, BDO and TCF Bank.

Wednesday, May 13, 2020
2:00 P.M. – 3:00 P.M. EDT 

Presenters: J. Michael Bernard, Member, Detroit; Robert C. Shrosbree, Member, Detroit; Eric L. White, Member, Dallas; Trish Kelly, President, Corporate Banking TCF Bank; David Duski, CPA, CLP, CFE
Director, Forensic Investigation & Litigation Services; Robert Berdanier, CPA Director, Business Restructuring Services BDO

Click here to view the recording