Fed expands ‘Main Street’ facility to serve non-profits

Federal Reserve

The Federal Reserve has expanded its Main Street Lending Program to provide greater access for non-profit organisations.

Non-profit firms now have two new loan options and the thresholds for existing loans have been cut so that a wider range of charities can benefit from the programme, the statement said.

The Main Street Lending Program – a facility to support credit flows to medium-sized firms – was announced in March as part of the “Cares Act” stimulus package, which contained provisions

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