COVID-19 Alert

Federal Reserve Publishes Initial Listing of Lenders Accepting New Business Customers Under the Main Street Lending Program

By: Timothy P. Manning
July 9, 2020

On July 8, 2020, the Federal Reserve of Boston (the “Federal Reserve”) published a state-by-state listing of lenders participating in the Main Street Lending Program (the “Program”) who are currently accepting applications from new business customers, and also elect to be listed. The Listing of Lenders Accepting New Business Customers can be viewed here.

The Federal Reserve has stated that this listing will be updated regularly as additional lenders who are accepting applications from new business customers complete the registration process for the Program. The Federal Reserve also encouraged prospective borrowers to inquire about loans under the Program with their existing financial institution, as well as those on the listing as some lenders might choose not to be listed.

The Federal Reserve reiterated that these participating lenders are the key to the Program as they will assess a borrower for eligibility under the Program and their own underwriting standards.

For more information on the Program, see prior Alerts (linked below). Morse will continue to follow developments related to the Program, and will report as appropriate.

Boston Fed Announces Main Street Lending Program is Fully Operational

Federal Reserve Main Street Lending Program Update: Open for Lender Registration

Federal Reserve Expands the Main Street Lending Program

Federal Reserve Provides Additional Guidance on the Main Street Lending Relief Program: Program Slated to Commence in the Near Term

The Federal Reserve Main Street Lending Program

Go to our full COVID-19 Resource Collection.