Main Street Lending Program Interest Rate
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Interest payments are deferred for one year.
9 coles street jersey city. The interest rate is libor plus 3. Main street lending program. The main street lending program which brusuelas expects will get at least 100 billion in federal funding at the outset could result in as much as 1 trillion in new loans for midsize companies.
The federal reserve established the main street lending program program to support lending to small and medium sized for profit businesses and nonprofit organizations that were in sound financial condition before the onset of the covid 19 pandemic. The main street lending program intends to purchase 95 percent of each eligible loan that is submitted to the program depending on compliance with the programs requirements. The program also accepts loans that were originated under the previously announced terms if funded before june 10 2020.
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