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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