40 min
Should Your Business Apply for the Main Street Loan Program? Deal Talk with 7MA
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- Investing
The U.S. government has taken strides in assisting small and midsize businesses that are suffering financially due to the COVID-19 pandemic. In addition to the Paycheck Protection Program (PPP) from the Small Business Administration, the Federal Reserve will be offering the Main Street Loan Program (MSLP). Although, as of publication, the MSLP hasn’t launched, you can use this time to prepare your materials, should you decide to apply.
In this episode of Deal Talk with 7MA, McGuireWoods Partner Clayton Stallbaumer and Associate Kayla McCann Marty join 7 Mile Advisors Partner Andy Johnston for an in-depth discussion on the different facets of the MSLP and what it means for lenders and borrowers alike. They explore how the loan program operates and the role the Federal Reserve plays in the lending market. (04:04) The program encourages borrowers to take on loans from eligible sources by removing the typical credit risk associated with the loans.
The U.S. government has taken strides in assisting small and midsize businesses that are suffering financially due to the COVID-19 pandemic. In addition to the Paycheck Protection Program (PPP) from the Small Business Administration, the Federal Reserve will be offering the Main Street Loan Program (MSLP). Although, as of publication, the MSLP hasn’t launched, you can use this time to prepare your materials, should you decide to apply.
In this episode of Deal Talk with 7MA, McGuireWoods Partner Clayton Stallbaumer and Associate Kayla McCann Marty join 7 Mile Advisors Partner Andy Johnston for an in-depth discussion on the different facets of the MSLP and what it means for lenders and borrowers alike. They explore how the loan program operates and the role the Federal Reserve plays in the lending market. (04:04) The program encourages borrowers to take on loans from eligible sources by removing the typical credit risk associated with the loans.
40 min