All information is based on our current understanding as of the date that it is posted. Please keep in mind this information is changing rapidly – it can and likely will change. Some information becomes outdated the same date it posted. Although we will monitor and update this page as new information becomes available, please do not rely solely on this page. We encourage you to contact your Louis Plung advisor for the latest information.

In a press release published June 15, 2020, The Federal Reserve Bank of Boston announced the opening of the much-anticipated $600 billion Main Street Lending Program (“MSLP”). The MSLP was created as part of the CARES Act for the purpose of providing loans to small to medium-sized businesses impacted by the COVID-19 pandemic. Additional information about the different lending facilities available to borrowers and loan terms can be found in our previous articles about the MSLP (here and here).

MSLP loan applications will be processed by approved lenders such as banks. The Federal Reserve is encouraging lenders to register on the program’s lender portal and begin making loans immediately. As there is not currently a listing of approved lenders, interested borrowers should contact their banking institution to determine if they are participating in the program.

Please contact us if you have any questions about the MSLP or for help determining if the program is the right fit for your business.