Webinar, "Main Street Lending Program"

June 4, 2020 12:00 PM to 1:00 PM

Please note: registration ends at 10:00 a.m. ET on the day of the webinar. To register after the cutoff, contact Nora Walls at nwalls@sfnet.com.

Thank you to our webinar sponsor

Description

The Main Street Lending Program (the “MSLP”) makes up to $600 billion available for loans to companies employing up to 15,000 workers or having up to $5 billion in 2019 annual revenues. The MSLP will be implemented through three facilities: (i) the Main Street New Loan Facility ("MSNLF"), which will provide for newly originated loans of between $500,000 and $25 million to eligible businesses, (ii) the Main Street Priority Loan Facility (“MSPLF”), which will provide for newly originated, ratably secured term loans of between $500,000 and $25 million to more highly leveraged eligible businesses, and (iii) the Main Street Expanded Loan Facility ("MSELF"), which will allow eligible borrowers to add a new, ratably secured term loan tranche of between $10 million and $200 million to existing credit facilities. Unlike loans under the Small Business Administration’s (SBA’s) Paycheck Protection Program (PPP), MSLP loans will not be eligible for full or partial forgiveness. Businesses will apply for MSLP loans through U.S. insured depository institutions, U.S. bank holding companies, and U.S. savings and loan holding companies, and the Federal Reserve will purchase an 85% or 95% participation in such loans (depending on which program is used) from the originating lender.

From the perspective of the lending community, our discussion will center on the following subjects:

Loans Provisions, including Term, Deferment Period, Rates, and Prepayment
Loan Conditions and Borrowers Restrictions
Loan Fees and Collateral Coverage
Documentation Requirements
Integrating Other Secured Loans with  MSLP Loans
Lender Participation Guidelines
Pros and Cons for ABL Lenders

Webinar hosted by Mignon Winston, White Oak Commercial Finance

Discussion Moderator:
Staci Rosche, McGuireWoods

Panelists:
Clayton Stallbaumer, Partner, McGuireWoods LLP
Yvonne Kizner, Co-Founder and SVP Asset-Based Lending, Cambridge Savings Bank
Mark Fagnani, Senior Managing Director, Clear Thinking Group

Registration fees are waived for SFNet members. However, if you would like to support our continuing efforts to bring timely, relevant information to our network, you will find an option to pay $50 in the registration window

Registration

Please note: registration ends at 10:00 a.m. ET on the day of the webinar. To register after the cutoff, contact Nora Walls at nwalls@sfnet.com.

Member Price: $0

Non-Member Price: $95