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Overview:

Designed to provide support for businesses having difficulties obtaining sufficient debt financing during today’s market situations, the US Federal Reserve established the Main Street Lending Program in March 2020. The program promised several opportunities especially for businesses that are too large for the SBA’s Paycheck Protection Program. However, a myriad of legal issues must still be considered thoroughly by companies who plan to register. Having a thorough understanding of its legal requirements and provisions is essential to ensure sound compliance and avoid pitfalls.

Join a panel of key thought leaders and practitioners assembled by The Knowledge Group as they provide the audience with a comprehensive discussion of the US Federal Reserve’s Main Street Lending Program. Speakers will provide the audience with an in-depth discussion of legal issues and will offer practical tips in maximizing opportunities while mitigating risks.

In this LIVE Webcast, seasoned finance lawyers Neal Pandozzi (Adler Pollock & Sheehan P.C.) and Meghan Tyson (Frost Brown Todd) will provide the audience with a comprehensive discussion of the US Federal Reserve’s Main Street Lending Program. Speakers will also provide the audience with an in-depth discussion of legal issues and will offer practical tips in maximizing opportunities while mitigating risks.

Some of the major topics that will be covered in this course are:

  • Overview of the US Federal Reserve’s Main Street Lending Program
  • Current and Emerging Issues
  • Opportunities and Challenges
  • Best Practices
  • Outlook

Credit:

Course Level:

Intermediate

 

Advance Preparation:

Print and review course materials

 

Method of Presentation:

On-demand Webcast (CLE)

 

Prerequisite:

General knowledge of the Main Street Lending Program

 

Course Code:

149270

 

NY Category of CLE Credit:

Areas of Professional Practice

 

Total Credit:

1.0 CLE


How to Claim CLE Credits Per State:

https://knowledgewebcasts.com/how-to-claim-cle-credits-per-state/


CLE State Requirements:

https://knowledgewebcasts.com/cle-state-requirements/

Speaker Panel:

Neal R. Pandozzi , Senior Counsel
Adler Pollock & Sheehan P.C.

Neal Pandozzi is Co-Chair of the firm’s Public Finance group.  He has served as bond counsel, disclosure counsel, borrower’s counsel, underwriter’s counsel, trustee’s counsel, and lender’s counsel in a wide variety of bond transactions, including genseral obligation bonds, revenue bonds, taxable and tax-exempt industrial revenue bonds, lease revenue bonds, certificates of participation, tax-exempt leases, drinking water and wastewater financings, transportation and airport financings, student loan financings, and 501(c)(3) bond transactions.  He has also represented clients in various corporate and business matters, including mergers and acquisitions, commercial finance, corporate formation and governance, contract negotiations and affordable housing transactions.

Meghan Tyson , Managing
Associate Frost Brown Todd

Meghan is a member of Frost Brown Todd’s CMBS Lending & Servicing Practice Group.  Meghan primarily represents institutional lenders in the origination of CMBS loans.  Meghan also has experience representing lenders in connection with construction, variable rate (interest cap protected) and mezzanine financing.  Meghan has developed an expertise in collateralizing complex real estate ownership interests, including those derived from and/or subject to ground leases, condominium regimes, tenancy in common agreements and planned community developments.  Following the enactment of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March, 2020, Meghan expanded her practice to include representation of borrowers and lenders in the origination, sale and servicing of loans issued under the Main Street Lending Program.

Agenda:

SEGMENT 1:

Neal R. PandozziSenior Counsel

Adler Pollock & Sheehan P.C.

  • The Federal Reserve Bank of Boston operates an emergency lending program for for-profit businesses and nonprofit organizations known as the Main Street Lending Program.
  • For nonprofit organizations, the Program is divided into the Nonprofit Organization New Loan Facility (the “NONLF”) and the Nonprofit Organization Expanded Loan Facility (the “NOELF” and together with the NONLF, the “Nonprofit Facilities”).
  • The Nonprofit Facilities support lending to small and medium-sized nonprofit organizations that were in sound financial condition prior to, but are now experiencing cash flow interruptions as a result of, the COVID-19 pandemic.
  • The Nonprofit Facilities purchase participation interests in newly-originated loans under the NONLF, or upsized tranches of existing loans under the NOELF, in each instance, originated by eligible lenders for the benefit of eligible nonprofit organizations.
  • The minimum loan size under the NONLF and the NOELF is $100,000 and $10 million, respectively.  The loans mature in five years and eligible borrowers make no payments on the loans during year one (interest payments deferred for one year and principal payments deferred for two years).  The loans bear interest at a variable rate of LIBOR + 3%.
  • The Nonprofit Facilities will cease purchasing loan participations on December 31, 2020, subject to extension by the Federal Reserve Board and the Treasury Department.

SEGMENT 2:

Meghan TysonManaging Associate

Frost Brown Todd

  • Overview of Main Street Lending Program For-Profit Facilities
  • Lender and Borrower Eligibility Criteria under the For-Profit Facilities
  • Program Requirements Specific to the For-Profit Facilities
  • Required Loan Documentation for the For-Profit Facilities

Date & Time:

Monday, November 23, 2020

3:00 pm to 4:00 pm (ET)

Materials:

Download Course Materials

Who Should Attend:

  • Loan Officers
  • Loan Operations Staff
  • Financial Advisors
  • Chief Financial Officers
  • Chief Executive Officers
  • Financial Analysts
  • Corporate Counsel
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SPEAKERS

Neal R. Pandozzi Senior Counsel
Adler Pollock & Sheehan P.C.
Meghan Tyson Managing
Associate Frost Brown Todd

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