Federal Reserve Chair Jerome Powell on Friday said central bank officials are open to expanding the Main Street Lending Program, which is days away from issuing its first loans, to businesses that may not currently qualify but need assistance to avoid shedding workers.
Fed staffers also reminded businesses interested in applying for the upcoming Main Street lending facility that they can seek financing even if they have already received some other types of loan assistance.
“I can imagine us expanding on either end too,” Powell said during an interview webcast on Friday. “We are looking back at companies that were in good, solid financial shape before the pandemic, we’re trying to find those companies and we’re trying to create credit products that work for them.”
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