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Main Street Lending Program

The Federal Reserve Main Street Lending Program is designed to help small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic but now face temporary cash flow interruptions and need financial assistance to maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic and the resulting economic downturn.

 Loan Summary:
  • 5-year loans, with floating rates
  • Loans range in size from $250,000-$300,000,000.
  • Main Street Loans will be offered and structured by your lender as appropriate.
  • Principal and interest payments deferred as outlined below.
  • Must have been a Pass Credit at the end of 2019.
  • Subject to credit review, underwriting and approval by Bank and approved by the Federal Reserve Bank of Boston.
  • Main Street Loans are not grants and cannot be forgiven.
  • Program will end on 12/31/2020
  New Loan Facility (MSNLF)      Priority Loan Facility (MSPLF)  Expanded Loan Facility (MSELF) 
Loan Term 
 5 Years   
Principal Payments 
  Principal deferred for two years. Years 3-5: 15%, 15%, 70%   
Interest Payments   Deferred for one year 
Interest Rate 
 Adjustable rate of LIBOR (1 or 3 mo.) plus 300 basis points. 
Loan Size      $250,000 to $35 million $250,000 to $50 million $10 million to $300 million
Maximum Combined Debt to Adjusted 2019 EBITDA  4 times 6 times 6 times
Lender Participation Rate 
 5%
Fed Participation Rate  95%
Prepayment Allowed  Yes, without penalty
Business Size Limits  15,000 employees or fewer, or 2019 revenues of $5 billion or less
Fees  Origination and transaction fees apply

The Main Street Lending Program also provides access to credit for Non Profit organizations including social service organizations, hospitals, and educational institutions. The organizations must be classified as 501 C 3 or 501 C 19 under the Internal Revenue Code.


 Non Profit Loan Qualifications Summary:
  • 5-year loans, with floating rates
  • Loans range in size from $250,000-$10,000,000.
  • Total non-donation revenues equal to or greater than 60% of expenses for the period from 2017 through 2019 (previously 70% revenues)
  • 2019 operating margin of 2% or more, (previously 5%)
  • Current days cash on hand 60 days (previously 90 days)
  • Current debt repayment capacity - ratio of cash, investments and other resources to outstanding debt and certain other liabilities - of greater than 55% (previously 65%)
  • Main Street Loans will be offered and structured by your lender as appropriate.
  • Principal and interest payments deferred as outlined below.
  • Must have been a Pass Credit at the end of 2019.
  • Subject to credit review, underwriting and approval by Bank and approved by the Federal Reserve Bank of Boston.
  • Main Street Loans are not grants and cannot be forgiven.
  • Program will end on 12/31/2020
  Non Profit New Loan Facility 
Loan Term 
 5 Years   
Principal Payments 
  Principal deferred for two years. Years 3-5: 15%, 15%, 70%   
Interest Payments   Deferred for one year 
Interest Rate 
 Adjustable rate of LIBOR + 3% 
Loan Size      $250,000 to $10 million
Lender Participation Rate 
 5%
Fed Participation Rate  95%
Prepayment Allowed  Yes, without penalty
Business Size Limits  Minimum of 10 employees
Fees  Origination and transaction fees apply

 Contact one of our Commercial Lenders to discuss your eligibility and start an application.

Charles J. Vita
Charles J. Vita
Executive Vice President, Chief Lending Officer
(585) 419-0670 x 50699
[email protected]
Michael Mallaber
Michael Mallaber
Senior Vice President, Director of Commercial Services
(585) 419-0670 x 50649
[email protected]
Darrin Brentnall
Darrin Brentnall
Vice President, Relationship Manager/SBA
(585) 394-4260 x 36021
[email protected]
Alex Broccuto
Alex Broccuto
Vice President, Relationship Manager
(585) 419-0670 x 50642
[email protected]
Jason DeWitt
Jason DeWitt
Vice President, Relationship Manager
(585) 419-0670 x 41940
[email protected]
Kevin Galka
Kevin Galka
Vice President, Relationship Manager
(585) 419-0670 x 50652
[email protected]
Greg Helmer
Greg Helmer
Vice President, Relationship Manager
(585) 419-0670 x 57751
[email protected]
Eric Koehler
Eric Koehler
Vice President, Relationship Manager
(585) 419-0670 x 41963
[email protected]
Lindsay Mohr
Lindsay Mohr
Assistant Vice President, Relationship Manager
(585) 419-0670 x 50633
[email protected]
Jason Tonkery
Jason Tonkery
Vice President, Relationship Manager
(585) 419-0670 x 50697
[email protected]

Charles J. Vita
Charles J. Vita
Executive Vice President, Chief Lending Officer
(585) 419-0670 x 50699
[email protected]
Michael Mallaber
Michael Mallaber
Senior Vice President, Director of Commercial Services
(585) 419-0670 x 50649
[email protected]
Darrin Brentnall
Darrin Brentnall
Vice President, Relationship Manager/SBA
(585) 394-4260 x 36021
[email protected]
Alex Broccuto
Alex Broccuto
Vice President, Relationship Manager
(585) 419-0670 x 50642
[email protected]
Jason DeWitt
Jason DeWitt
Vice President, Relationship Manager
(585) 419-0670 x 41940
[email protected]
Kevin Galka
Kevin Galka
Vice President, Relationship Manager
(585) 419-0670 x 50652
[email protected]
Greg Helmer
Greg Helmer
Vice President, Relationship Manager
(585) 419-0670 x 57751
[email protected]
Eric Koehler
Eric Koehler
Vice President, Relationship Manager
(585) 419-0670 x 41963
[email protected]
Lindsay Mohr
Lindsay Mohr
Assistant Vice President, Relationship Manager
(585) 419-0670 x 50633
[email protected]
Jason Tonkery
Jason Tonkery
Vice President, Relationship Manager
(585) 419-0670 x 50697
[email protected]