U.S. Economy: New Main Street Lending Program for Businesses

The Fed has launched a new lending program to help struggling companies and get people back to work. The Main Street Lending program was announced in March to help small to medium businesses that were doing well before the pandemic, and it's rolling out now at local banks. The loans are not forgivable like those in the Paycheck Protection Program but the terms are generous, and they do fill a lending void for businesses that were too big to qualify for the PPP program. The Federal Reserve Bank of Boston is administering the $600 billion program, but loans are provided through local banks that have registered to participate... www.NewsForInvestors.com