• Latest
  • Trending
  • All

Fed lowers minimum loan level for small business lending program

October 30, 2020 11:12
Equities struggle amid economic and China-related concerns

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
Stocks gain, dollar eases ahead of job market data

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off the pressure

December 26, 2022 05:13
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
Risk demand reemerges cautiously, but caution remains in place

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists selling pressure

December 20, 2022 10:44
Market sentiment dented by recession fears

Market sentiment dented by recession fears

December 19, 2022 02:53
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays on the defensive nearly across the board

November 16, 2022 05:34
Investor sentiment improves, but gains limited

Investor sentiment improves, but gains limited

November 15, 2022 05:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar licks wounds after plunge

November 14, 2022 05:05
  • Terms & Сonditions
  • Contact
Saturday, January 28, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Fed lowers minimum loan level for small business lending program

Fed lowers minimum loan level for small business lending program

by FWNews
October 30, 2020 11:12
in News
0

The Federal Reserve has lowered the barriers on its lending program for smaller businesses as part of an effort to broaden the appeal of the sparsely used facility.

In another pair of tweaks to its Main Street Lending Program, the Fed on Friday said it is reducing the minimum loan size to $100,000 from $250,000 and will ease restrictions on debt for companies already participating in the Paycheck Protection Program.

Aimed at helping small- and medium-sized firms get through the Covid-19 pandemic, the program thus far has issued nearly 400 loans for a total of $3.7 billion. The total capacity of the MSLP is $600 billion, thanks to $75 billion in collateral from the Treasury Department that can be leveraged up.

In a release, the Fed said the changes are “two important ways to better target support to smaller businesses that employ millions of workers and are facing continued revenue shortfalls due to the pandemic.”

The Main Street program is part of a raft of facilities the Fed rolled out shortly after the pandemic escalation in early March.

Both borrowers and lenders have complained, however, that some of the conditions of the loans are too stringent and the fees are more onerous than they’re willing to pay. Where the PPP loans are forgivable under many circumstances, the Main Street loans are not, further dampening their appeal.

The other change apart from the minimum loan requirement exempts up to $2 million in PPP loans when computing applicants’ debt loads. The Fed also said it is adjusting fees “to encourage the provision of these smaller loans.”

The move comes amid heightened concerns about an economic slowdown heading into the winter, triggered both by a rise in coronavirus cases and a continuing stalemate on Capitol Hill over further fiscal relief. Fed officials repeatedly have called for more stimulus from Congress, but the White House and congressional Democrats have been unable to reconcile their competing proposals.

Main Street loans are aimed at companies with fewer than 15,000 employees or with 2019 revenue of $5 billion or less. In addition to the program, the Fed also has been buying corporate debt and issuing loans and liquidity injections across a variety of markets.

Share2Tweet1
ADVERTISEMENT
FWNews

FWNews

Track the pulse of the market

Related Posts

Equities struggle amid economic and China-related concerns
Fundamental analysis

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
12
Stocks gain, dollar eases ahead of job market data
Fundamental analysis

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off the pressure

December 26, 2022 05:13
12
Investors spooked by strong US data
Fundamental analysis

Investors spooked by strong US data

December 23, 2022 11:55
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Geopolitical tensions ease but risks persist

Geopolitical tensions ease but risks persist

February 16, 2022 13:34
11
Pound corrects higher due to dollar weakness

Dollar rallies across the board to start the week

March 8, 2021 03:22
17
Newly manufactured Renault SA automobiles sit parked at an automobile distribution terminal at Barcelona commercial port in Barcelona

European Car Industry Prepares for the Worst as Sales Plunge

April 1, 2020 10:56
19

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews