The Federal Reserve Board issued initial guidance regarding its
Main Street Lending Program, as authorized under the Coronavirus
Economic Stabilization Act (Title IV of the CARES Act), on
April 9, 2020, which was modified and supplemented by the
frequently asked questions (FAQs) published on April 30, 2020.
On May 27, 2020, the Federal Reserve Bank of Boston, which the
Federal Reserve System tasked with administering the Main Street
Lending Program, released a further updated set of FAQs and
published form documentation to assist with the documentation of
each loan participation. The new guidance both modified and
supplemented the previous guidance issued on the three
facilities―the Main Street New Loan Facility, the Main Street
Expanded Loan Facility and the Main Street Priority Loan
Facility.
