Main Street Priority Loan Facility, which comprise their joint
"Main Street Lending Program" that is intended to provide
additional financing for small-and medium sized businesses impacted
by the ongoing COVID-19 pandemic.
On May 27, 2020, the Federal Reserve Bank of Boston
provided further updates in connection with the Main Street Lending
Program. The update included a revised version of the Main
Street Lending Program Frequently Asked Questions (FAQ) document, as well as legal
forms and agreements for eligible borrowers and eligible lenders to
participate in the program.
The new updates seemed to shy away from previous press reports
that the Federal Reserve would be making Main Street Program loans
directly to borrowers, and only to envision loans through eligible
lenders. Indeed, the FAQ says "To obtain a loan
under the Program, an Eligible Borrower must submit an application
and any other documentation required by an Eligible Lender to such
Eligible
