Home / Articles / The Federal Reserve’s Main Street Lending Program

The Federal Reserve’s Main Street Lending Program

April 10, 2020

Share:

On April 9, the Federal Reserve increased its economic support for individuals, businesses and state/local governments. To help keep the economy and employment market stable, the Fed will provide up to $2.3 trillion in loans. A recent press release gives details of how the Fed will allocate the money, through programs such as the Small Business Administration’s Paycheck Protection Program and the Main Street Lending Program.

The Main Street Lending Program will provide support for small and mid-size businesses, provided they were in good financial standing before the crisis. Those companies with up to 10,000 employees or revenues lower than $2.5 billion will have access to 4-year loans through the program.

View the entire press release here.

All content provided in this article is for informational purposes only. Matters discussed in this article are subject to change. For up-to-date information on this subject please contact a Clark Schaefer Hackett professional. Clark Schaefer Hackett will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

Guidance

Related Articles

Article

2 Min Read

Should your business be outsourcing sales tax compliance?

Article

2 Min Read

What Do the 2023 Cost-of-Living Adjustment Numbers Mean For You?

Article

2 Min Read

New Congress: Possible Tax Legislation Changes on the Horizon

Article

2 Min Read

Year-End Spending Package Tackles Retirement Planning and Conservation Easements

Article

2 Min Read

2023 Tax Calendar

Article

2 Min Read

The Inflation Reduction Act Extends Energy Efficiency Building Incentives

Get in Touch.

What service are you looking for? We'll match you with an experienced advisor, who will help you find an effective and sustainable solution.

  • Hidden
  • This field is for validation purposes and should be left unchanged.