AHA comments on proposed Main Street Lending Program for nonprofits

The Department of the Treasury and Federal Reserve proposal to expand the Main Street Lending Program to nonprofit organizations, as advocated by AHA, has the potential to satisfy loan assistance needs for health care organizations ineligible for Paycheck Protection Program loans or for which PPP loan maximums are insufficient, the association said in comments submitted today.

However, the letter proposes changes to the proposed loan facility term sheets “focused on increasing the possibility that hospitals around the country can make use of this potentially vital loan facility and on easing the daunting conditions imposed on hospitals in the midst of a public health crisis with devastating financial effects.” 

For more on the proposal, see the recent AHA Special Bulletin.