News COVID-19

Federal Reserve to Aid SBA Loans

Order Reprints

April 8, 2020—The Federal Reserve announced it will support the government's $349 billion small business lending program, per a report from Inc.

The Federal Reserve said it will buy loans that banks make to small businesses as part of the program. This helps create incentive for banks to engage in more lending. It will free up more cash for banks to spend, which otherwise would be required to hold some cash when making a loan in case of default.

The Federal Reserve is also expected to launch a program that would aid states and cities by buying municipal bonds. 

To find out more about how small businesses can gain access to capital quickly, click here.

Stay up to date with the latest in Ratchet+Wrench's coronavirus coverage.

Related Articles

SBA Program to Bring Aid Quickly to Small Businesses

SBA Extends Deferment Period For EIDL Loans

SBA Mistakenly Gave Away $692M In Duplicate PPP Loans

You must login or register in order to post a comment.