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Main Street Lending Program – A New Option for Companies With More Than 500 Employees

In Corporate Resources, Employer Resources by Porzio

On April 9, 2020, the Treasury Department and the Federal Reserve announced the Main Street Lending Program (“Program”) to expand upon emergency loans otherwise provided by the CARES Act and to provide additional funding opportunities for small to mid-size businesses. Access to these funds through the Program is intended to be available from May 2020 through September, 2020. In the interim, it is prudent to understand the Program and be prepared to access as much as $600 billion in loans by working with your participating lender.