Fed expands ‘Main Street’ facility to serve non-profits
New loan options and wider eligibility to support credit flows to charities, hospitals and universities
The Federal Reserve has expanded its Main Street Lending Program to provide greater access for non-profit organisations.
Non-profit firms now have two new loan options and the thresholds for existing loans have been cut so that a wider range of charities can benefit from the programme, the statement said.
The Main Street Lending Program – a facility to support credit flows to medium-sized firms – was announced in March as part of the “Cares Act” stimulus package, which contained provisions
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