In the hope of making its Main Streets Lending Program more attractive – and more useful – to small businesses suffering through the coronavirus pandemic, the Federal Reserve has again changed the eligibility criteria. The new minimum loan size to participate in the program has been reduced to $100,000. Initially, the Main Street program was…
Read More »At long last, the Federal Reserve has officially opened its Main Street Lending Program this week, inviting lender to register for the program so they can begin loaning immediately. The program, which has been in the works and on the drawing board since early April, not long after the coronavirus pandemic caused the economic shutdown…
Read More »Although it initially announced the program back in early April, the Fed is still preparing for an official launch of its Main Street Lending Program, through which it will purchase some $600 billion in loans from eligible lenders. The program funds come from the Coronavirus Aid and Economic Security Act (CARES Act), signed into law…
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