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Term Sheets Finalized for Main Street Lending Program

Client Alert
May 4, 2020

The Main Street Lending Program (“MSLP”) is designed to provide support to small and medium-sized businesses during the current pandemic. The availability of additional credit is intended to help companies that were in sound financial condition prior to the onset of the COVID-19 pandemic maintain their operations and payroll until conditions normalize. The loans will be provided by funds invested by the Department of Treasury. The terms sheets have been finalized for the program, which should be up and running shortly.

Unless extended, the MSLP loans will only be available through September 30, 2020. They are intended to provide longer term credit than the PPP loans and MSLP funds are to be used to enable employee retention. Although MSLP loans are full recourse and non-forgivable, they have very favorable terms such as the deferral of principal and interest payments for the first 12 months of the loan. Also, in certain instances MSLP loans may be unsecured.

There are three types of loans under the MSLP:  (1)  Main Street New Loan Facility (“New Loan”), (2)  Main Street Priority Loan Facility (“Priority Loan”), and (3) Main Street Expanded Loan Facility (“Expanded Loan”). The criteria for eligibility are the same for all three programs. A borrower must meet the following criteria to apply for the program: 

  1. Borrower must have been in business prior to March 13, 2020;
  2. Borrower must be eligible to receive loans from the SBA as amended by the CARES Act;
  3. Borrower must be a US business;
  4. Borrower must make all certifications required;
  5. Borrower must have less than 15,000 employees or 2019 annual revenues of less than $5 billion;
  6. Borrower must not be an air carrier that received funding under the CARES Act; and
  7. Borrower can only participate in one loan program – New Loan, Priority Loan, or Expanded Loan – and cannot participate in the Primary Market Corporate Credit Facility.  However, the Borrower is still eligible if it received a PPP loan under the CARES Act.

Each loan type differs based on the borrower’s credit and outstanding debt. The term sheets for each loan can be found at the following links: New Loan, Priority Loan, and Expanded Loan.

Please contact your primary BMD attorney for further questions.  

Main Street Lending ProgramMSLPpandemicloan reliefDepartment of Treasury
Client Alert

Ohio House Bill 537: Proposed Regulations for Midwives and Birthing Centers

January 28, 2026House Bill 537, introduced in the Ohio House of Representatives, proposes a comprehensive regulatory framework for certified nurse-midwives, certified midwives, licensed midwives, and traditional midwives. The legislation would clarify scope of practice, establish licensure standards, and impose new requirements for freestanding birthing centers and home births. Healthcare providers and facilities should be aware of the proposed changes and their potential operational impact.Client Alert

Proposed Health Information Privacy Reform Act Expands Protections Beyond HIPAA

January 26, 2026The Health Information Privacy Reform Act (HIPRA) seeks to extend privacy protections to health data not covered under HIPAA, including data collected by apps and wearables. HIPRA introduces broader definitions of protected health information, strengthens privacy and security requirements, establishes patient notification rights, and sets national de-identification standards. Companies processing health data should monitor developments to ensure compliance.Client Alert

Medicare Updates on Skin Substitutes: LCDs Withdrawn, Payment Changes Take Effect

January 23, 2026Medicare’s planned Final Local Coverage Determinations (LCDs) for skin substitutes were withdrawn in late December 2025, meaning previous coverage rules remain in effect. The 2026 Medicare Physician Fee Schedule introduces a single payment rate of approximately $127.14 for these products. Providers should review implications for diabetic foot and venous leg ulcer treatments.Client Alert

Understanding the Seven Core Elements of an Effective Healthcare Compliance Program

January 22, 2026The Affordable Care Act requires healthcare providers participating in Medicare, Medicaid, and CHIP to maintain an effective compliance program. Guidance from the Department of Health and Human Services and the Office of Inspector General outlines seven core elements that form the foundation of these programs, from written policies and compliance oversight to auditing, training, and corrective action. This alert highlights each element and explains how practices can tailor compliance programs to their size and risk profile while meeting federal expectations.Client Alert

Preventing a Board Investigation

January 21, 2026Healthcare professionals in Ohio are subject to licensing board investigations that can lead to disciplinary action. Staying compliant with regulations, documenting carefully, and operating within your professional scope can help prevent issues. If contacted by a board, working with an attorney is critical to protect your license and rights.
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