Apr 27 2020
On April 9, 2020, as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Treasury and the Federal Reserve Board (Federal Reserve) unveiled the Main Street Lending Program (MSLP), aimed to provide emergency liquidity to small and mid-sized businesses experiencing losses caused by the COVID-19 pandemic. The program is comprised of two credit facilities: the Main Street New Loan Facility (MSNLF), which allows lenders to originate new loans to eligible borrowers, and the Main Street Expanded Loan Facility (MSELF), which allows lenders to increase the size of existing loans to eligible borrowers.