Main Street Lending Program from the Federal Reserve

Chamber News

The program is designed to help credit flow to small and medium-sized businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic.

These loans have several features that will help businesses and nonprofits facing challenges. The program offers 5-year loans, with floating rates, and principal and interest payments deferred as indicated in the charts below to assist those experiencing temporary cash flow interruptions.

Loan size starts at $250,000 and ranges up to $300 million for some loan types. To assist a broad range of borrowers, the program will offer three different business loan types, and two types of loans for nonprofits, each with somewhat different characteristics

Interested businesses and nonprofits will work with an eligible lender to determine if they meet the program requirements, which are available online, as well as the lender’s own underwriting standards. The lender will determine approval for a loan.

Learn more

Details for businesses

Details for nonprofits