MAIN STREET LENDING PROGRAM PORTAL FOR LENDERS- NOW OPEN


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Uploaded on Jul 2, 2020

Category Business

Feel free to book a commitment-free consultation with a finance professional to learn more about the Main Street Lending Program. https://levineandassoc.com

Category Business

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MAIN STREET LENDING PROGRAM PORTAL FOR LENDERS- NOW OPEN

LEVINE & AN E SW YS O R K A C C O U N T I NO G F CI R MIATES MAIN STREET LENDING PROGRAM PORTAL FOR LENDERS- NOW OPEN FRB recently introduced the Main Street Lending Program that works with three main loan facilities as follows: Main Street New Loan Facility (MSNLF) Loan Amount: $250,000.00 -$ 35,000,000.00 Main Street Priority Loan Facility (MSPLF) Loan Amount: $250,000.00 - $ 50,000,000.00 Main Street Expanded Loan Facility (MSELF) Loan amount from $10,000,000.00 to $300,000,000.00. WHO ARE ELIGIBLE TO BORROW? Business applicant must have 15,000 employees or less, or 2019 revenues of $5 bill ion or less Business applicant must have been legally established in the U.S. before March 13, 2020 Business applicant must have been in sound financial shape before the pandemic It is not clear i f a sole proprietorship qualif ies as an eligible business Non-profit organizations are not eligible for these loans Businesses in certain financial sectors such as lenders, banks, and li fe insurance companies are ineligible Passive businesses owned by developers and landlords are ineligible Businesses that part icipated in the SBA's PPP can apply for a Main Street loan Businesses that received an SBA EIDL can apply for a Main Street loan Businesses part icipat ing in the Primary Market Corporate Credit Facility are ineligible WHAT ARE THE DOCUMENTS NEEDED? Financial statements and Tax Return fi l ings reported to the IRS from the year 2017-2019. Personal f inancial statement of owners, owning more than 25% shares or more of the business. Business General Information: Business legal name and taxpayer identif ication number (EIN, SSN) Registered Contact Numbers and Email Address Cert i f icate of Formation Bylaws and Operating Agreements CONTACT US M A I L I N G A D D R E S S 657 Central Avenue, Suite 205Cedarhurst, NY 11516 E M A I L A D D R E S S [email protected] P H O N E N U M B E R (516) 666- 8880