Main Street Lending Program Provides Working Capital for Small Businesses
The Main Street Lending Program is designed to help credit flow to small and medium-sized businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic. Loans originated under the program have several features that will help businesses and nonprofits facing challenges, and loan sizes start at $250,000 and range up to $300 million for some loan types. The link provides a detailed overview of the program by the Federal Reserve.
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