Restrictions Keep Lenders, Borrowers From Main Street Lending Program
Restrictions within the US government’s coronavirus aid Main Street Lending Program (MSLP) are staving off borrowers and lenders alike even as new lending activity begins to pick up in the middle market.
So far, just US$252m across 32 loans were committed or settled under the program, with a further US$604m in 55 loans under review, according to figures published on August 12 by the Federal Reserve Bank of Boston, the organization managing the program.
It is just a fraction of the overall US$600bn in available funds, which has raised questions from lawmakers about the viability of a program designed to provide immediate help to companies hit by the economic shutdown. Read the full article here.