The Federal Reserve has announced that it is establishing a Main Street Lending Program to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic.

The program will operate through three facilities: the Main Street New Loan Facility, the Main Street Priority Loan Facility, and the Main Street Expanded Loan Facility. See the Federal Reserve’s webpage for term sheets for each facility and FAQs providing more information regarding eligibility and conditions. The Federal Reserve and the Treasury Department continue to evaluate the feasibility of including nonprofits as eligible organizations. 

In an April 12 letter, the AHA urged the Federal Reserve and Treasury Department “to ensure that access to this critically-necessary loan facility will be attainable for [nonprofit] hospitals without delay.”

Related News Articles

Headline
The Centers for Disease Control and Prevention will update its immunization schedules for the COVID-19 and chickenpox vaccines to adopt recent recommendations…
Headline
The Food and Drug Administration today issued a request for public comment on a series of questions regarding current approaches to evaluating artificial…
Headline
The Food and Drug Administration yesterday announced that Olympus issued a global recall of its ViziShot 2 FLEX needles manufactured prior to May 12 following…
Headline
The Advisory Committee on Immunization Practices Sept. 19 recommended that patients should consult their health care provider if they want to receive a COVID-…
Headline
The Department of Health and Human Services Sept. 18 announced it will take new actions to help improve care for individuals with long COVID. They include a…
Headline
The Food and Drug Administration has identified a Class I recall for Mo-Vis BVBA R-net Joysticks due to a firmware error that causes the wheelchair to ignore…