Main Street Lending Program Open for Business
COVID-19 Business Update
Business Advisory Services Group
The Main Street Lending Program has finally commenced lending operations with over 90 financial institutions now set up to originate Main Street loans. It is unclear why initial interest among banks is tepid. But for now, the Federal Reserve Bank of Boston has released a list of the banks that will lend to new customers through the central bank’s Main Street Lending Program.
The banks are listed by state on the Federal Reserve Bank of Boston’s website. Click here to access the list.
The Federal Reserve has expanded the Main Street Lending facility twice since it was announced in March. The program offers five year loans ranging from $250,000 to $300 million, with no principal payments required for the first two years.
Click here for more information on the Main Street Loan Program.
The information presented here should not be construed as legal, tax, accounting, or valuation advice. No one should act on such information without appropriate professional advice and after a thorough examination of the particular situation.
