For Borrowers: Main Street Lending Program - Applicability for Tribal Businesses
This webinar is an opportunity for tribal businesses to learn about the lending facilities offered by the Main Street Lending Program. The session will provide an overview of the program including terms, conditions, and eligibility requirements. The session will focus in particular on issues of interest to tribal businesses, including the waiver of CARES Act restrictions relating to dividend distributions made by tribal businesses to tribal governments. The webinar is also an opportunity for participants to get answers to questions from 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.