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Business Resources- COVID-19

Posted on: July 6, 2020

Main Street Lending Program.

The program is designed to help credit flow to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic.

Loans originated under the program have several features that will help businesses facing challenges. The program offers 5-year loans, with floating rates, and principal and interest payments deferred as indicated in the chart below to assist businesses facing temporary cash flow interruptions.

The loans range in size from $250,000 to $300 million – a wide range that may support a broad set of employers.

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