Extension of the Main Street Lending Program

This article was updated on July 29, 2020.  Further updates will be made as new information becomes available.

Schneider Downs continues to track the evolving landscape of federal financial programs offered in the wake of the business disruption caused by the COVID-19 pandemic. 

On July 28, the Federal Reserve announced an extension of its lending facilities from September 30, 2020 to December 31, 2020.  The extension applies to the Main Street Lending Program (Main Street).

According to the Federal Reserve, the three-month extension of its lending facilities will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available to help the economy recover from the COVID-19 pandemic.

For more information on the Main Street Lending Program, please see Schneider Downs’ previous Our Thoughts On articles:

Main Street Loan Modifications for Not-for-Profit Organizations 

Another Expansion of the Main Street Lending Program 

Main Street Lending Program –FAQs Part 1 

Main Street Lending Program –FAQs Part 2 

If you have other questions regarding the Main Street program, reach out first to your bank and other lenders to see if you can apply for Main Street funding through them.  If you need more information, please reach out to any of your connections at Schneider Downs or contact Joel Rosenthal at jrosenthal@schneiderdowns.com.

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at contactSD@schneiderdowns.com.

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2020 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

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