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Main Street Lending Program | Federal Reserve System
Source: Flickr by Garbutt. Attribution 2.0 Generic (CC BY 2.0)

Main Street Lending Program | Federal Reserve System

A new program launched to help small businesses affected by the coronavirus through the Federal Reserve System will have two main parts. These two facilities are the Main Street New Loan Facility and the Main Street Expanded Loan Facility. A Reserve bank will purchase 95 percent participations in loans derived from eligible lenders, who will retain the remaining 5 percent. To qualify a business must have less than 10,000 employees and 2019 revenue had to come in at $2.5 billion or less. More information regarding the loans and program will be available soon, and small businesses are urged to apply once it is released.

Source: https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm

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