Eligibility Requirements for MSLP Funding
The Federal Reserve’s Main Street Lending Program (MSLP or “Main Street”) provides liquidity for companies that need funding for operating costs but may have limited access to conventional bank loans. If you employ 15,000 employees or less and your business was profitable and financially sound (with positive cash flow) in 2019, this program may fit your financing needs.
Federal Help for Business Operations
The government is recognizing a problem for many small to mid-size companies—the reality of banks’ reluctance to provide new funding without capital requirements and debt capacity limitations. Many borrowers face additional challenges when lines of credit for operating costs have already been drawn down, leaving them with no means to continue funding operations. Main Street attempts to remediate this all too familiar scenario, which is especially disheartening during difficult economic times.
More Guidance for MSLP
Learn about how the Main Street Lending Programs can serve as a funding source for your operating expenses during the 2020 pandemic. Download our Program Overview.