Fed extends Main Street Lending Program
Program is meant to help facilitate lending to small- and medium-sized US businesses
The Federal Reserve announced on Tuesday that it has extended the termination date of Main Street Lending Program facilities to Jan. 8, 2021.
The extension will allow the Fed more time to review fund loans that were submitted to the Main Street lender portal by Dec. 14, the Fed said in a press release.
WHAT IS THE FED'S MAIN STREET LENDING PROGRAM?
The lending program first announced in April is meant to help facilitate lending to small- and medium-sized U.S. businesses amid the coronavirus pandemic.