For Lenders: Main Street Lending Program - Expansion of Program to Nonprofit Organizations
On July 17, 2020, the Federal Reserve announced an expansion of the Main Street Lending Program to provide greater access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations. This webinar is an opportunity for nonprofit organizations to learn about the new lending facilities for nonprofits. The session will provide an overview of the program including terms, conditions and eligibility requirements of the two new nonprofit loan options. The webinar is also an opportunity for participants to get answers to questions from senior officials from the Federal Reserve.
The Main Street Lending Program is designed to support small and medium-sized for-profit U.S. businesses and nonprofit organizations during this period of financial strain by giving these entities access to additional credit. The program is intended to help for-profit businesses and nonprofits that were in sound financial condition prior to the onset of the COVID-19 pandemic maintain operations until conditions normalize. Small and medium-sized for-profit businesses and nonprofits are integral to the U.S. economy and create jobs for a large share of the U.S. workforce.
Participants are encouraged to review the nonprofit term sheets.