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Tag: Main Street Lending Program

Main Street Lending Program modified to provide greater access to Nonprofits

By Diana Miller On Friday, July 17th, the Federal Reserve Board modified the Main Street Lending Program, providing additional access to nonprofit organizations such as social service organizations, hospitals, and educational institutions. Nonprofit organizations are vital to the communities they serve and these changes are welcomed news to the nonprofit sector. Although not yet operational, 2 new loan options were released today to help nonprofit organizations due to the COVID pandemic....

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Main Street Lending Program Expanded to More Businesses

By Travis Miskowitz Update 6/10/20 On Monday, June 8th, the Federal Reserve Board again revised the Main Street Lending Program, providing increased access to more small and medium-sized businesses. The $600 billion loan program has yet to fund a single loan, and criticism of the Fed’s latest stimulus effort in recent weeks has put pressure on the Fed to relax certain requirements, providing more flexibility to eligible borrowers.  The Fed has received a growing chorus of complaints...

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