Jul 17 The Main Street Lending Program is Now Available For Non-Profits
The Federal Reserve has recently announced that the Main Street Lending Program is now available for non-profit organizations seeking COVID-19 relief.
On July 17, 2020, final terms were released for two new loan options created to provide support to a broad set of non-profit organizations, including hospitals, educational institutions and social service organizations – the Nonprofit Organization New Loan Facility (NONLF) and the Nonprofit Organization Expanded Loan Facility (NOELF).
Here is a quick comparison of the two loan facilities geared towards non-profits:
Please view the term sheets below for more information regarding eligibility and conditions.
- Term Sheet: Nonprofit Organization New Loan Facility (NONLF)
- Term Sheet: Nonprofit Organization Expanded Loan Facility (NOELF)
Sax will continue to update you as further details are made available. Reach out to your Sax advisor or email [email protected] with questions. For more and on-going information relative to your state and business, visit Sax’s COVID-19 Resource Center.