An introduction to the Federal Reserve’s new Main Street Lending Program
In response to the COVID-19 pandemic, Congress and the Federal Reserve created the Main Street Lending Program (Main Street). The purpose of Main Street is to provide $600 billion in low-interest loans to small and medium-sized U.S. companies. The final details are not yet available, but the Federal Reserve anticipates the program will soon be operational and has released significant information. This article summarizes the program’s basic framework and requirements once it’s up and running.