COVID-19 Latest Updates and Resources

Main Street Lending Program

The Federal Reserve yesterday provided new information about the Main Street Lending Program, which is designed to target midsize businesses too large to qualify for the Paycheck Protection Program and/or that need money for more than just payroll expenses. The Fed indicated that businesses with up to 15,000 employees and $5 billion in annual revenue will be able to apply. No firm date has been set yet for the program to begin, but Thursday’s press release notes that a start date is expected to be announced soon. We encourage physician practices potentially eligible for the program to begin talking with their banks about the process for applying for these loans now.