The Federal Reserve announced April 30 that it was making adjustments to its planned $600 billion Main Street lending program based on public comments and was also considering a separate approach to meet the unique needs of nonprofit organizations.
In a statement, the Fed said one adjustment would allow firms with slightly more employees to participate in the plan designed to help firms that are neither too small to get government grants nor so big they can access the capital markets.
With the new changes, the Main Street program now offers more options to a wider set of eligible small and medium-sized businesses. Learn more.