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April 7, 2020

Federal Reserve to boost small business lending efforts

  • The move is intended to encourage more banks to participate because many are reluctant to lend to small companies.
    • By CHRISTOPHER RUGABER
    AP Economics Writer

    WASHINGTON — The Federal Reserve said Monday it will support the government’s $349 billion small business lending program, which had a rocky start Friday.

    The Fed said that it will buy loans that banks make to small businesses as part of the program, which is being carried out by banks and the Small Business Administration and was set up under the $2.2 trillion economic relief package.


     
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