Business owner reopening a restaurant while wearing a facemask

Update: Main Street Lending Program Opens for Borrower Applications

According to a July 6 announcement, the Federal Reserve Board’s Main Street Lending Program (MSLP) is now fully operational. Lenders are accepting applications and the Federal Reserve is prepared to participate in eligible loans, the agency said.

The program is designed to help small and medium-sized business relieve the financial strain caused by the COVID-19 crisis. Loans can range in size from $250,000 to $300 million. The loans are not grants and will not be forgiven.

Interested parties can review the program, eligibility, term sheets for each facility (new, priority, or expanded), and frequently asked questions via the following links:


Prospective borrowers can also contact a lender participating in the program for additional details. Not all lenders are participating.

If you have questions about the MSLP or other COVID-19 relief options, please contact your HBK Advisor.

About the Author(s)
Amy Reynallt is a Manager with the HBK Manufacturing Solutions Group in the Youngstown, Ohio office of HBK CPAs & Consultants. She is experienced in navigating the strategic and financial matters associated with manufacturing and works closely with manufacturers to help them plan, execute, and meet their short- and long-term financial goals. Amy can be reached at 330-758-8613 or by email at areynallt@hbkcpa.com.
Hill, Barth & King LLC has prepared this material for informational purposes only. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or under any state or local tax law or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Please do not hesitate to contact us if you have any questions regarding the matter.

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