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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!
