The US Federal Reserve announced on April 30th it is expanding the scope and eligibility for the Main Street Lending Program
The changes include: creating a third loan option, with increased risk sharing by lenders for borrowers with greater leverage; lowering the minimum loan size for certain loans to $500,000; and expanding the pool of businesses eligible to borrow.
On April 29th, the Fed left the target range for its federal funds rate unchanged at 0-0.25 percent and reiterated it is committed to using its full range of tools to support the economy hit by the coronavirus crisis.
Policymakers said that the ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term.