Nonprofit Organization New Loan Facility (NONLF) Summary | Practical Law

Nonprofit Organization New Loan Facility (NONLF) Summary | Practical Law

This Checklist is a summary of the terms and conditions of the Nonprofit Organization New Loan Facility (NONLF), established by the Federal Reserve, with the Secretary of the Treasury, to provide access to credit to nonprofit organizations that were in sound financial condition before the COVID-19 pandemic. The NONLF is part of the Federal Reserve's Main Street Lending Program and is one of several loan and liquidity programs established by the Federal Reserve in coordination with the CARES Act to mitigate the adverse economic effects of the pandemic. The Main Street Lending Program (MSL Program), including the NONLF, terminated on January 8, 2021.

Nonprofit Organization New Loan Facility (NONLF) Summary

Practical Law Article w-026-1370 (Approx. 9 pages)

Nonprofit Organization New Loan Facility (NONLF) Summary

by Practical Law Finance
Law stated as of 30 Jun 2023USA (National/Federal)
This Checklist is a summary of the terms and conditions of the Nonprofit Organization New Loan Facility (NONLF), established by the Federal Reserve, with the Secretary of the Treasury, to provide access to credit to nonprofit organizations that were in sound financial condition before the COVID-19 pandemic. The NONLF is part of the Federal Reserve's Main Street Lending Program and is one of several loan and liquidity programs established by the Federal Reserve in coordination with the CARES Act to mitigate the adverse economic effects of the pandemic. The Main Street Lending Program (MSL Program), including the NONLF, terminated on January 8, 2021.