The Federal Reserve said it would launch a new program to buy loans that financial firms make through the government’s emergency small-business lending program, according to people familiar with the matter
WASHINGTON—The Federal Reserve said Monday it will launch a new program to buy loans that financial firms make through the government’s emergency small-business lending program.
The move would establish a secondary market for loans guaranteed by the Small Business Administration’s Payroll Protection Program, part of a $2.2 trillion economic relief package President Trump signed last month to help individuals and businesses affected by the coronavirus pandemic.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed Goes All Out To Keep Economy Alive During Coronavirus ShutdownAs the U.S. tumbles into a coronavirus recession, the Federal Reserve is using its nearly unlimited power to generate cash to cushion the fall. The Fed 'is really throwing out all the stops,' one analyst says.
Read more »
Credit Markets Show Signs of Stabilizing After Historic Fed InterventionMost new bond sales are still coming from well-established companies with higher credit ratings, reflecting a consensus that a deep recession is ahead
Read more »
Fed Up With Their Government, Brits Are Taking the Coronavirus Response Into Their Own HandsMutual aid groups are picking up the slack on the U.K.’s coronavirus response.
Read more »
Small Business Stimulus Loans: Bank Of America Has Received Applications For $32.6 Billion, Wells Fargo Says It Can’t Meet Demand Due To Fed RestrictionsBank of America has seen applications from 177,000 small businesses that account for $32.6 billion, while Wells Fargo says it can't meet demand due to fed restrictions by theothersarahh
Read more »
Small Business Stimulus Loans: Bank Of America Has Received Applications For $32.6 Billion, Wells Fargo Says It Can’t Meet Demand Due To Fed RestrictionsDemand for the Paycheck Protection Program under the CARES Act is skyrocketing.
Read more »
How the $2 trillion US stimulus package could impact SMBs and alt lenders - Business InsiderThe US Senate announced a $350 billion loans package for small businesses to help them sustain their business during the coronavirus pandemic.
Read more »