WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the opening of lender registration for the Main Street Lending Program:
“This morning the Federal Reserve Bank of Boston announced that the Main Street Lending Program Lender Portal is now open. The program, which will operate through three facilities – the Main Street New Loan Facility, the Main Street Priority Loan Facility, and the Main Street Expanded Loan Facility – is designed to help ensure that small and medium-sized businesses have access to the credit they need to get through this challenging period. As announced last week, the portion of the loans retained by the originating bank has been lowered to five percent for all eligible loans submitted to the program, creating additional balance sheet capacity for participating lenders. I encourage all eligible lenders to register in order to provide loans to eligible borrowers as soon as possible.”
For more information on the Main Street Lending Program, including program information and frequently asked question, visit www.bostonfed.org/mslp.