Mayer Brown Webinar
3:00 pm – 3:30 pm ET
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On April 30, the Federal Reserve Board announced it is expanding the scope and eligibility for the Main Street Lending Program in order to further help credit flow to small and medium-sized businesses that were in sound financial condition before the COVID-19 pandemic.
Please join Mayer Brown partners Fred Fisher, Jeff Taft, and Adam Wolk and associate Logan Payne as they discuss these new changes, which include:
- A new third loan option for "priority loans," with increased risk sharing by lenders;
- An expansion of the pool of businesses eligible to borrow and lenders eligible to lend (though in both cases, with important exclusions);
- Leverage measures being based on "adjusted EBITDA"; and
- And a step back from SOFR to LIBOR.
Originally published May 5, 2020.
