Is your Commercial Lender providing the service you would expect in a time of need?

 

If you are unsure of what to do next, to make sure your business can weather this pandemic, we need to talk.

Main Street Lending Program

The Main Street Lending Program (MSLP) offers three different secured or unsecured 5-year term loan options set at an adjustable rate of LIBOR (1 or 3 month) plus 300 basis points with principal deferred for two years and interest payments deferred for one year for eligible borrowers. Unlike Paycheck Protection Program (PPP) loans, Main Street loans are full-recourse loans and are not forgivable.

 

All loans under the Main Street Lending Program must permit prepayment without penalty. All loans are made by private financial institutions but backed by the Federal Reserve.

Am I Eligible?

In order to be eligible for a Main Street Lending Program loan, a business must:

  • Have been established before March 13, 2020

  • Have no more than 15,000 employees or 2019 annual revenues of no more than $5 billion

    • The SBA’s affiliation rules apply in determining the employee and revenue count

    • In counting employees, the Main Street Lending Program advises businesses to refer to SBA regulations by counting all full-time, part-time, seasonal, or otherwise employed persons, excluding volunteers and independent contractors

  • Have been created or organized in the U.S. with significant operations in and a majority of its employees based in the U.S.

  • Not also participate in one of the other Main Street loan facilities, as well as the Primary Market Corporate Credit Facility

Note: Businesses that received support through the SBA Paycheck Protection Program (PPP) are eligible to receive a Main Street loan

 

Call us, to explore your options today! Similar to the PPP program, there is only a certain amount of funds and time available for the MSLP Financing option...

To schedule Virtual Meeting

Call Now 336-530-1423

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A Nationwide Commercial Division

If you decide to work with Hugo, you will say what all his clients say;

"WE GO WITH HUGO!"

NEW YORK OFFICE

Commercial Mortgage Connection Inc

265 Sunrise Hwy

#1196

Rockville Centre, NY 11570

Phone:  888-501-3138

Email: mike@commercialmortgageconnection.com

CommercialMortgageConnection.com

NORTH CAROLINA OFFICE

Commercial Mortgage Connection Inc

200 N. Main Street Suite 300

Graham, NC 27253

Phone:  336-530-1423

Fax:       561-431-2379

E-Mail:  Hugo@WeGoWithHugo.com

WeGoWithHugo.com

FLORIDA OFFICE

Commercial Mortgage Connection Inc

2353 Caroma Lane
West Palm Beach, FL 33415

Phone:  561-654-4455

Fax:       561-431-2379

E-Mail:  edmceneryre@gmail.com

CommercialMortgageConnection.com

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