Wall Street Journal, June 8, 2020: Fed Makes Terms More Favorable for Main Street Lending Program
The Federal Reserve said Monday it will make terms more favorable for its incipient program to extend loans to small and midsize businesses amid public worries that the novel effort to blunt the coronavirus-driven shock might produce underwhelming results.
The Fed lowered the minimum loan amount and raised the maximum loan limit under its Main Street Lending Program. It also extended loan terms to five years from four years and will allow businesses to defer principal payments for the first two years of the loan, instead of the first year.
