Mnuchin: Main Street Lending Program Is Now Fully Operational

Mnuchin: Main Street Lending Program Is Now Fully Operational

WASHINGTON, D.C. — U.S. Treasury Secretary Steven T. Mnuchin recently issued the following statement on the Main Street Lending Program:

“[The] Federal Reserve Bank of Boston announced that the Main Street Lending Program is now fully operational and ready to purchase qualifying loans. 

“The Main Street program was established to provide a safety net for small and medium-sized businesses that were in sound financial condition before the pandemic and require bridge financing to get through this challenging period. 

“We have seen a significant improvement in liquidity since the program was first announced and I am pleased that many banks, recognizing the challenges that this shock has posed for otherwise healthy businesses, have already been lending to firms in this sector. 

“Small and medium-sized businesses play a vital role in our economy and the Main Street program will help ensure they have access to financing to maintain their operations as the economy safely reopens.  I encourage all eligible lenders to participate and to begin submitting qualifying loans.”

For more information on the Main Street Lending Program visit www.bostonfed.org/mslp.

Thanks for visiting! MyChesCo brings reliable information and resources to Chester County, Pennsylvania. Please consider supporting us in our efforts. Your generous donation will help us continue this work and keep it free of charge. Show your support today by clicking here and becoming a patron.

Buy Us a Cup of Coffee
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments