Discover and read the best of Twitter Threads about #mainstreetlending
Most recents (2)
Twice this week, Sec. Mnuchin and @federalreserve Chair Powell have expressed the need for additional aid for #smallbiz, including a second disbrusement of #PPP loans — even suggesting targeted aid for restaurants, hotels, and other specific industries . . .
The next #COVID19 stimulus will likely have additional aid for #smallbiz, but with additional segmentation and requirements.
- Biz with less than 20 ppl
- Restaurants & Hotels (i.e. Sector72)
- #MinorityOwned & Rural Biz
Each will likely have a specific carve out in the bill . .
- Biz with less than 20 ppl
- Restaurants & Hotels (i.e. Sector72)
- #MinorityOwned & Rural Biz
Each will likely have a specific carve out in the bill . .
Specific to @federalreserve’s #MainStreetLending programs, we may see modifications on eligibility, personal guarantees, and lender requirements to help unclog this funding channel for #smallbiz and “larger” #SMBs . . .
1) "Federal Reserve developed the #MainStreetLending Program to help credit flow to small and medium-sized businesses that were in sound financial condition before the pandemic."
2) after initial announcement of #MainStreetLending Program, Fed Reserve expanded it to: Create a 3rd loan option, w/increased risk sharing by lenders for borrowers with greater leverage &
Lowered the minimum loan size for certain loans to $500,000
federalreserve.gov/newsevents/pre…
Lowered the minimum loan size for certain loans to $500,000
federalreserve.gov/newsevents/pre…
3) this resulted in 3 loan (🍕) options: plain, pepperoni & mushroom: "termed new, priority, & expanded" 4 year loans:
New: $500K Minimum Loan Size
Priority: Ditto
Expanded: $10M Minimum Loan Size & up to a TON!
New: $500K Minimum Loan Size
Priority: Ditto
Expanded: $10M Minimum Loan Size & up to a TON!
