Who\u2019s eligible, how it\u2019s different from PPP and how much money is up for grabs.<\/b>
\nOn Thursday, the Federal Reserve announced that it will expand the scope of its highly anticipated Main Street Lending Program to include more companies and more types of loans. While the central bank has yet to determine a start date for that program, here\u2019s everything we know so far.
Over the last month, the Fed has rewritten its playbook and made unprecedented interventions to prop up the economy. It has announced new emergency initiatives worth trillions of dollars, including the Main Street program, that will extend its reach to small and midsize businesses as well as state and municipal governments\u2014both new entries into markets the Fed has historically avoided. The Fed hasn\u2019t waded into direct loans since the 1930s. It has also cut rates to nearly zero, stepped in to backstop a $350 billion emergency small business loan program administered by the Small Business Administration, and purchased billions of dollars\u2019 worth of government debt and mortgage-backed securities.
Fed Will Leave Rates At Zero As Powell Vows Continued Aggressive Action To Prop Up Economy(Forbes)
Federal Reserve Will Disclose Who\u2019s Getting Bailout Money Each Month (Forbes)
The Fed Will Pump Another $2.3 Trillion Into The Economy. Here\u2019s Why This Time Is Different(Forbes)
Federal Reserve Will Lift Asset Cap On Wells Fargo For Small Business Stimulus Loans(Forbes)<\/p>\n