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Federal Reserve Press Release Regarding Small Business Lending

At 2:00 p.m. EDT today, (Monday, April 6, 2020) the Federal Reserve released a statement regarding plans to facilitate lending to small businesses. Quoting from the release:

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

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.

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