Slide 1: Main Street Lending Program
Main Street Lending Program
Slide 2: Main Street Lending Program Overview
Main Street Lending Program Overview • The Federal Reserve established the Main Street Lending Program (MSLP) to promote lending to a wide variety of small and medium-sized businesses that were in good financial condition before the onset of the COVID-19 pandemic to help maintain operations and payr
Slide 3: MSLP Overview
MSLP Overview Lenders review and approve loans based on their underwriting criteria prior to submitting loan participation information to the SPV 3
Slide 4: Eligible Loans
Eligible Loans New Loan Facility Priority Loan Facility Expanded Loan Facility Loan Term 5 years Interest Rate Adjustable rate of LIBOR (1 or 3 month) + 300 basis points Principal and Interest Principal deferred for 2 years and interest deferred for 1 year Payments Loan Size $250,000 - $35 million $
Slide 5: Eligible Lenders
Eligible Lenders Eligible Lenders include the following (criteria are the same across all three facilities): • U.S. federally-insured depository institutions (including banks, savings associations, and credit unions) • U.S. branches or agencies of foreign banks • U.S. bank holding companies • U.S. s
Slide 6: Eligible Borrowers
Eligible Borrowers Eligible Borrowers are Businesses (as defined in the term sheets) with the following characteristics (criteria are the same across all three facilities): • U.S. Business established prior to March 13, 2020 • Up to 15,000 employees or up to $5 billion in 2019 annual revenue • Must
Slide 7: Eligible Borrower Conditions
Eligible Borrower Conditions • Eligible Borrowers may participate in only one of the Main Street facilities (New, Priority, or Expanded). • Eligible Borrowers participating in a Main Street facility may not also participate in the Primary Market Corporate Credit Facility. • In addition, an affiliate
Slide 8: Getting Started
Getting Started • Interested businesses should contact an Eligible Lender to discuss applying for a loan that would meet the program criteria for an Eligible Loan, which are available on the MSLP website. • As previously noted, such loans also need to meet the lender’s underwriting standards. • Elig