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1 1 (October 29, 2020)

handle is hein.crs/govdcit0001 and id is 1 raw text is: SConr essional Research Servik Larger Businesses and COVID-19: Financial Relief and Assistance Resources Updated October 29, 2020 This CRS Insight presents selected resources and CRS products on economic relief and assistance for medium and large businesses that were directly affected by the Coronavirus Disease 2019 (COVID-19) pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020, contains provisions to assist businesses. This Insight focuses on sources of assistance designated for medium and large businesses that do not qualify for Small Business Administration programs or other assistance programs for small businesses. For small business assistance programs, see CRS Insight IN11301, Small Businesses and COVID-19: Relief and Assistance Resources, by Maria Kreiser. Note that this Insight may not include every instance of federal assistance to medium or large firms provided in response to the COVID-19 pandemic. Selected Resources Federal Reserve System The Federal Reserve System's COVID-19 resource page outlines the actions the Fed has taken in response to the pandemic. Three emergency funding, credit, liquidity, and loan facilities that could potentially assist medium and large corporations are described below. Main Street Lending Program The Main Street Business Lending Program benefits businesses that were in good financial standing with their lending institutions before the pandemic. The Program was announced April 9, 2020. The Fed accepted comments until April 16, 2020, and expanded the scope and eligibility of the program on April 30, 2020 (adjusted loan amounts); June 8, 2020 (extended credit to small- and medium-sized businesses); and July 17, 2020 (extended credit to nonprofit organizations). The Main Street Lending Program began accepting lender registrations on June 15, 2020, and three credit facilities became fully operational on July 6, 2020-the Main Street New Loan Facility (MSNLF), the Congressional Research Service https://crsreports.congress. gov IN11368 CRS INS GHT Prepared for Members and Cornnmttees oi Conqres3-----------------------------------------------------------------------------------

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