Main Street Lending Program Broadened to Attract More Lenders, Borrowers
Abrigo
JUNE 12, 2020
Key Takeaways The soon-to-begin Main Street Lending Program (MSLP) aims to fulfill a need for mid-sized businesses to access relief funds amid the coronavirus pandemic. The MSLP was introduced in April, but the scope of the program has changed several times to increase participation. The latest changes include lowering the minimum loan size, raising the maximum loan size, extending the maturity of each loan option, and increasing participation from the Reserve Bank.
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