Main Street Lending Program Forms and Agreements Main Street Lending Program Forms and Agreements

The Federal Reserve has established the Main Street Lending Program (Program) to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic. The Program operates through three facilities: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Street Expanded Loan Facility (MSELF).

The necessary legal forms and agreements for eligible borrowers and eligible lenders to participate in the MSNLF, MSELF, or MSPLF can be found below. Instructions for Lender Required Documentation (July 6, 2020) and Frequently Asked Questions (FAQs) (June 26, 2020) provide more information regarding eligibility and conditions can be found below.

Lender Registration Documents:

  • Lender Registration Certifications and Covenants (May 27, 2020): This document must be signed and submitted by the eligible lender at the time of its registration with the Main Street SPV. It must be signed by the eligible lender’s CEO and CFO (or officers performing similar functions).
  • Lender Wire Instructions (May 27, 2020): Eligible lenders must complete and submit this document providing wire instructions for the bank account into which the Main Street SPV will transfer the purchase amount, servicing fees, and any other payments related to MSNLF, MSPLF, or MSELF transactions.

Documents Required at the Time a Loan Participation is Sold to the Main Street SPV:

The Forms and Agreements required at the time a loan participation is sold to the Main Street SPV were updated as needed on June 11, 2020, to align to the Main Street term sheets released on June 8, 2020.

  • Loan Participation Agreement: This agreement comes in two parts: Transaction Specific Terms and Standard Terms and Conditions.
    • Loan Participation Agreement Transaction Specific Terms (June 11, 2020): The eligible lender must complete, sign, and submit the Transaction Specific Terms in order to effect the sale of a loan participation to the Main Street SPV.
    • Loan Participation Agreement Standard Terms and Conditions (June 11, 2020): This document sets out the terms and conditions for all Main Street loan participations and is incorporated into the Transaction Specific Terms. This document will continue to be available on this webpage. Eligible lenders do not need to submit a copy of this document when selling a loan participation to the Main Street SPV.
  • Servicing Agreement (May 27, 2020): The eligible lender must complete, sign, and submit the Servicing Agreement at the time a loan participation is sold to the Main Street SPV.
  • Assignment-in-Blank (June 11, 2020): An Assignment-in-Blank must be completed, signed, and submitted by the eligible lender to the Main Street SPV at the time a loan participation is sold to the Main Street SPV. The eligible borrower must also sign this document. Eligible lenders should reference the specific instructions set forth in the Main Street Lending Program Instructions for Lender Required Documentation (as noted below) to determine how to properly complete this agreement. Note that for loans made on credit agreement forms that contain customary syndicated loan facility provisions, including agency, assignment, voting, sharing and other multi-lender provisions, the form Assignment-in-Blank that must be submitted to the Main Street SPV is not the form provided here. Instead, the form would be specified in the credit agreement.
    • The form Assignment-in-Blank for the Main Street Lending Program has not been updated or amended since it was issued on June 11, 2020. However, on July 6, 2020, the instructions were removed from the cover page of the document, relocated to the Main Street Lending Program Instructions for Lender Required Documentation, and modified to reflect changes necessary in relation to use of the Main Street Lender Portal.
  • Co-Lender Agreement: This agreement comes in two parts: Transaction Specific Terms and Standard and Terms and Conditions. Note that this document is not required for loans made on credit agreement forms that contain customary syndicated loan facility provisions, including agency, assignment, voting, sharing and other multi-lender provisions..
    • Co-Lender Agreement Transaction Specific Terms (June 11, 2020): The eligible lender must complete, sign, and submit the Transaction Specific Terms at the time a loan participation is sold to the Main Street SPV. The eligible borrower must also sign this document.
    • Co-Lender Agreement Standard Terms and Conditions (June 11, 2020): This document sets out the terms and conditions for the Co-Lender Agreement and is incorporated into the Transaction Specific Terms. This document will continue to be available on this webpage. Eligible lenders do not need to submit a copy of this document when selling a loan participation to the Main Street SPV.
  • Facility Transaction Specific Lender Certifications and Covenants: The eligible lender must submit one of these documents in relation to each loan participated to the Main Street SPV. The document must be signed by an authorized officer of the eligible lender. These documents vary by Main Street Facility:
  • Facility Borrower Certifications and Covenants: The CEO and CFO (or officers performing similar functions) of the eligible borrower must sign one of these documents for each loan participated to the Main Street SPV. The eligible lender must submit this document at the time a loan participation in the eligible borrower’s loan is sold to the Main Street SPV. These documents vary by Main Street Facility:
  • Loan Document Checklist: Appendix A to the Main Street FAQs (June 26, 2020) sets out a checklist of items that must be included in the loan documentation for eligible loans originated by eligible lenders to eligible borrowers.

Legal Documents

Historical Versions of Main Street Forms, Agreements and Other Documents
These documents are no longer in use for new loans and loan participations, but may have been used for existing loans and loan participations and are otherwise provided for convenience and reference only.

Note that, for loans made under the April 30, 2020 term sheets and funded on or before June 10, 2020, the versions of the Participation Agreement Transaction Specific Terms and Standard Terms and Conditions, Assignment-in-Blank, Co-Lender Agreement Transaction Specific Terms and Standard Terms and Conditions, Lender Transaction Specific Certifications and Covenants and Borrower Certifications and Covenants are the versions issued on May 27, 2020.
Main Street Lending Program Instructions for Lender Required Documentation
Lender Registration Certifications and Covenants
  • No previous versions
Lender Wire Instructions
  • No previous versions
Participation Agreement Transaction Specific Terms
Participation Agreement Standard Terms and Conditions
Servicing Agreement
  • No previous versions
Assignment-in-Blank
  • Assignment-in-Blank Instructions Only (June 11, 2020) (The legal form issued on June 11, 2020, is still current and effective, but the instructions have been updated and relocated to the Main Street Lending Program Instructions for Lender Required Documentation)
  • Assignment-in-Blank (May 27, 2020) (No longer current)
Co-Lender Agreement Transaction Specific Terms
Co-Lender Agreement Standard Terms and Conditions
MSNLF Lender Transaction Specific Certifications and Covenants
MSPLF Lender Transaction Specific Certifications and Covenants
MSELF Lender Transaction Specific Certifications and Covenants
MSNLF Borrower Certifications and Covenants
MSPLF Borrower Certifications and Covenants
MSELF Borrower Certifications and Covenants
Main Street FAQs