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- Fed is expanding scope and eligibility for Main Street Lending Program
Fed is expanding scope and eligibility for Main Street Lending Program
Fed announced on Thursday it is expanding the scope and eligibility for the Main Street Lending Program.
As part of its broad effort to support the economy, the Federal Reserve developed the Main Street Lending Program to help credit flow to small and medium-sized businesses that were in sound financial condition before the pandemic.
... In response to the public input, the Board decided to expand the loan options available to businesses, and increased the maximum size of businesses that are eligible for support under the program. The changes include:
- Creating a third loan option, with increased risk sharing by lenders for borrowers with greater leverage;
- Lowering the minimum loan size for certain loans to $500,000; and
- Expanding the pool of businesses eligible to borrow.
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