July 6, 2020: Main Street Loan Program Update
The Boston Federal Reserve Bank of Boston announced today that the Main Street Lending Program is fully operational.
The list of lenders who have elected to participate, and who would like their name announced, is expected to be published in coming weeks.
A quick overview of the Main Street Loan Program and the three options available is:
The repayment structures of these loans require the ability of the borrower to generate sufficient cash to make the payments or generate sufficient EBITDA to restructure the debt before the first required principal payment at the end of year 3.
This program continues to provide an option to certain borrowers and should be evaluated for each potential borrower based on:
The borrower’s EBITDA performance in 2019.
The borrower’s current level of debt.
The borrower’s future cash flow and EBITDA forecasts.
The lender’s desire to participate in the Main Street Program.
For additional information on the Main Street Loan Programs please refer to the following articles:
Please contact us to discuss any questions or to evaluate options.