VIS Covid Support


Whether you need financing for your commercial or investment property, a bridge loan to help you through these tough times, or financing for your business, VIS Capital Venture is here to help.

Main Street Lending Program – Quick Facts

The Federal Reserve established the Main Street Lending Program (MSLP) to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic.

The MSLP terms are determined by the Federal Reserve and are as follows:

Maturity
5 Years
Principal Deferral
2 years
Interest Payments
Deferred for 1 year
Interest Rate
Adjustable rate of LIBOR (1 or 3 month) + 300 basis points
Principal Amortization Schedule
  • 15% at the end of the third year
  • 15% at the end of the fourth year
  • A balloon payment at maturity at the end of the fifth year
  • The interest rate is Libor plus 3%.
  • There are no payments for the first year.
  • The payments for the second year are interest only.
  • You are required to repay 15% of the loan at the end of the third year.
  • You are required to repay 15% of the loan at the end of the fourth year.
  • The loan is due in full (70%) at the end of the fifth year.

Please reference the Federal Reserve site for full program details, including eligibility. Here are a few of the key MSLP eligibility requirements:

  • Business (borrower) was established prior to March 13, 2020
  • Business (borrower) has either less than 15,000 employees or had less than $5 billion in 2019 annual revenue.
  • Business (borrower) has significant operations in and a majority of its employees in the United States.

 The following businesses are not generally eligible for the MSLP:

  • Banks and lending companies
  • Passive real estate businesses
  • Life insurance companies
  • Non-US companies
  • Pyramid sale distribution plans
  • Gambling companies
  • Private clubs
  • Government-owned entities
  • Religious organizations
  • Loan packagers
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