As businesses begin the process of reopening their doors after the COVID-19 shutdown, many have considered turning to the Federal Reserve’s Main Street Lending Program for aid. Announced on March 23, the Program’s goal is to help businesses weather the pandemic and the subsequent economic effects.1 However, recent changes to the Program may make it even more attractive and useful to business owners.
A Flexible Fed
New Loan Types
For some business owners, the Main Street Lending program may be a low-risk, “stop-gap” measure to help with any sudden dips in consumer spending. Let me know if you would like to chat about how this could help you or someone you know.
1. Federalreserve.gov, 2020
2. Federalreserve.gov, 2020
3. Federalreserve.gov, 2020
The Main Street Lending Program
June 12, 2020