Main Street Lending Program
We are proud to support businesses participate in the new Federal Reserve Main Street Lending program focused on providing business loans to help eligible medium-sized and small companies through the COVID-19 pandemic.
TransPecos Banks will support the Main Street New Loan Facility and Main Street Priority Loan Facility:
Main Street New Loan Facility
- $250,000 - $35 million
- Maximum Loan Size set at 4X Adjusted 2019 EBITDA
Main Street Priority Loan Facility
- $250,000 - $50 million
- Maximum Loan Size set at 6X Adjusted 2019 EBITDA
Both facilities offer the following terms:
- 5 year loan at adjustable rate of LIBOR (1 or 3 month) plus 300 basis points
- Principal payments are deferred for 2 years, interest payments are deferred for 1 year
- Principal payments are paid 15% (year 3), 15% (year 4), 70% (year 5)
- Prepayment is allowed, without penalty
- Origination and transaction fees will apply
*At this time, TransPecos Banks is not accepting new applications. Please continue to check back for updates to the program.