The Federal Reserve on Tuesday, Dec. 29, said it is extending the end date for its Main Street Lending Program by eight days to process an influx of submitted applications.
The program, targeted at small- and mid-sized businesses in need of credit to get through the COVID-19 pandemic, will remain open until Jan. 8, 2021.
The extension, which the Fed said was approved by U.S. Treasury Secretary Steven Mnuchin, will give the central bank the time needed to process and fund the loans. Learn more.