By Gordon Russell and Kathleen Thompson A Lender has two choices for funding a Main Street Loan. A Lender may fund a Main Street Loan and then seek to sell a participation interest in said Main Street Loan to the Main Street SPV. A Lender may condition its extension of credit to the Eligible Borrower […]
Nuts and Bolts of Funding a Main Street Loan
UPDATED: July 31 Changes to Main Street Lending FAQs
By Gordon Russell and Kathleen Thompson The following documents were updated by the Federal Reserve Friday, July 31st: (1) Lender Registration Certifications and Covenants; (2) Loan Participation Agreement Transaction Specific Terms; (3) Loan Participation Agreement Standard Terms and Conditions; (4) Servicing Agreement; (5) Assignment-in-Blank; (6) Co-Lender Agreement Transaction Specific Terms; (7) Co-Lender Agreement Standard Terms […]
KRCL CARES: MAIN STREET LENDING TASK FORCE – A Comparison of the June 26, 2020 FAQs to the June 20, 2020 FAQs
By Gordon Russell and Kathleen Thompson On Friday, June 26th, the Federal Reserve circulated a revised version of its Frequently Asked Questions (FAQs) for the Main Street Lending (“MSL”) Program. This blog reviews the five new FAQs that were added and the two minor changes that were made. Specifically, the new FAQs include H.12-H.14 relating […]