Federal Reserve Extends Termination Date of Main Street Lending Program Facilities to January 8, 2021
Summary
A Federal Reserve Board press release dated December 29, 2020 says the Board on Tuesday extended the termination date of the Main Street Lending Program facilities to January 8, 2021. The release says the extension is intended to allow more time to process and fund loans that were submitted to the Main Street lender portal on or before December 14, 2020. It states that, as described in new frequently asked questions and program term sheets, the extension is consistent with section 1005 of the Consolidated Appropriations Act and was also approved by the Secretary of the Treasury. The release links five term sheets for the New, Priority and Expanded loan facilities and the nonprofit organization facilities.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Cite this document
“Federal Reserve Extends Termination Date of Main Street Lending Program Facilities to January 8, 2021.”
Original at www.federalreserve.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/fed-pr-2020-12-29-extends-termination-jan8-2021-text-5400a7b0ca/
, SHA-256 045fbf4e9d31e8dfa99f8bd3f352c4ac1d31019b454b4e297a1a7b8fab10fd08.Full text
December 29, 2020 ### Federal Reserve extends termination date of Main Street Lending Program facilities to January 8, 2021 to allow more time to process and fund loans that were submitted to Main Street lender portal on or before December 14, 2020 For release at 11:00 a.m. EST In order to allow more time to process and fund loans that were submitted to the Main Street lender portal on or before December 14, 2020, the Federal Reserve Board on Tuesday extended the termination date of the Main Street Lending Program facilities to January 8, 2021. As described in new frequently asked questions and program term sheets, the extension is consistent with section 1005 of the Consolidated Appropriations Act and was also approved by the Secretary of the Treasury. For media inquiries, call 202-452-2955 **Associated term sheets linked from this release:** - Main Street New Loan Facility Term Sheet (PDF): https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20201229a1.pdf - Main Street Priority Loan Facility Term Sheet (PDF): https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20201229a2.pdf - Main Street Expanded Loan Facility Term Sheet (PDF): https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20201229a3.pdf - Nonprofit Organization New Loan Facility Term Sheet (PDF): https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20201229a4.pdf - Nonprofit Organization Expanded Loan Facility Term Sheet (PDF): https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20201229a5.pdf Last Update: December 29, 2020
File and source
- File
- FED_PR_2020-12-29_extends-termination-jan8-2021_text.md.txt
- Size
- 1,606 bytes
- SHA-256
- 045fbf4e9d31e8dfa99f8bd3f352c4ac1d31019b454b4e297a1a7b8fab10fd08
- Original
- www.federalreserve.gov