Another financing option for small businesses, known as the Main Street Lending Program (MSLP), is expected to be rolled out early this month.
The MSLP was initially referenced in the CARES Act. The Program is meant to help businesses that were either unable to access a PPP loan or require additional support after receiving a PPP loan. The program consists of three different lending facility options referred to as New Loans, Priority Loans and Expanded Loans. The loans will be made by eligible lenders who will then sell 85%to 95% of each loan to a Single Common Special Purpose Vehicle which received an initial equity investment of $75 Billion from the Department of the Treasury. The combined size of the program will be up to $600 Billion.
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