FED Broadens the Main Street Lending

May 01, 2020 01:48 PM AEST
Team Kalkine

The United States Federal Reserve to expand its Main Street lending, which would allow businesses with up to 15,000 workers to apply.

FED increased the limit from 10,000 employees and USD 2.5 billion revenue to 15,000 employees and USD 5 billion in revenue.
The Federal Reserve also decided to broaden the types of loan and divided them into three categories, i.e., new, priority and expanded.
While the new and priority category would cater to the minimum size of USD 500,000, the expanded category would deal with loans greater than equal to USD 10 million.

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