Federal Reserve will establish a facility to facilitate lending to small businesses via the Small Business Administration's Paycheck Protection Program (PPP) by providing term financing backed by (2020-04-06)

Summary

A press release of the Board of Governors of the Federal Reserve System dated April 06, 2020, on small-business lending via the Small Business Administration's Paycheck Protection Program (PPP). It announces that the Federal Reserve will establish a facility to provide term financing backed by PPP loans and states that additional details will be announced this week.

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Board of Governors of the Federal Reserve System

Press Release

April 06, 2020

Federal Reserve will establish a facility to facilitate lending to small businesses via the Small Business Administration's Paycheck Protection Program (PPP) by providing term financing backed by PPP loans

For release at 2:00 p.m. EDT

To facilitate lending to small businesses via the Small Business Administration's Paycheck Protection Program (PPP), the Federal Reserve will establish a facility to provide term financing backed by PPP loans. Additional details will be announced this week.

For media inquiries, call 202-452-2955

Last Update: April 06, 2020

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