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The Federal Reserve Board modified the Main Street Lending Program to provide greater access to credit for small and medium-sized nonprofit organizations impacted by the COVID-19 pandemic. In particular, the Board approved two new loan options – Nonprofit Organization New Loan Facility (NONLF) and Nonprofit Organization Expanded Loan Facility (NOELF). As of August 25, 2020, the NONLF and NOELF are not yet accepting loans for purchase of a participation. Updates on the operational status of the NONLF and NOELF will be available on the Federal Reserve Bank of Boston’s website (1). See links below for additional information and to access the latest FAQs (2).
CPCA produced this webcast alongside Colleen Ramires and Chris Bell at Moss Adams (3) to educate community health centers about the programs’ requirements and help them prepare for the NONLF and NOELF applications once they are available.
(1) Federal Reserve Bank of Boston
(3) Moss Adams
Lending Non Profit, Main Street Lending Program: Nonprofit Organization Lending.
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