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FAQ: Main Street Business Lending Program

On April 30, 2020, the Federal Reserve announced certain changes and clarifications to its Main Street Lending Program. The Main Street Lending Program was initially announced on April 9, 2020 and will support direct lending to certain small and mid-sized businesses, utilizing funding from the Coronavirus Aid, Relief and Economic Security Act (CARES Act). (See our previous alert on the CARES Act’s $454 billion appropriation in funding for Federal Reserve emergency lending programs here.)  Read more…