- On August 6, 2020, the Main Street Lending Program's Nonprofit Organization FAQs were amended to provide guidance regarding the calculation of "total compensation" for purposes of complying with limits on compensation under the direct loan restrictions. FAQs H.12. and H.13. were added and L.4. was amended.
- On July 31, 2020, the Main Street Lending Program’s forms and agreements were amended to include the Nonprofit Organization New Loan Facility and the Nonprofit Organization Expanded Loan Facility. The documents include technical changes to accommodate multi-borrower loans and simplify terms. Details regarding when the Main Street Program will begin purchasing participations in loans to nonprofits and loans with multiple borrowers is forthcoming. In addition, the Main Street (for profit) FAQs and Nonprofit Organization FAQs were updated.
- On July 23, 2020, the Federal Reserve Board published the Main Street Lending Program’s frequently asked questions for nonprofit lending. View the FAQs here.
- On July 17, 2020 the Federal Reserve Board modified the Main Street Lending Program to support greater access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations. View the term sheets here.
- On July 15, 2020, the Main Street Lending Program’s frequently asked questions for business lending were amended to provide further guidance on a number of issues. See what changed.
- On July 8, 2020, the Federal Reserve Bank of Boston published a state-by-state listing of lenders participating in the Main Street Lending Program who are currently accepting applications from new business customers and also elect to be listed. View the listing here.
- On July 6, 2020, the Federal Reserve Bank of Boston announced that the Main Street Lending Program is now fully operational for business lending, ready to purchase participations in eligible loans that are submitted to the program by registered lenders. Learn more about registration or read the press release here.