MSLP: Benefits and Details of the New Federal Reserve Loan Program for Businesses

June 16, 2020 Loans & Finance

Federal Reserve Loan Program for Businesses

The Main Street Lending Program is a new economic security initiative sponsored by the Federal Reserve. It offers four-year loans to eligible business borrowers. The interest rate for the loans is the London Inter Bank Offered Rate (LIBOR) plus three percent, or 300 basis points. Interest and principal payments are deferred for one year. And …

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