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Fed Preparing to Purchase New Small Business Payroll Loans

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The Federal Reserve said it would launch a new program to buy loans that financial firms make through the government’s emergency small-business lending program, according to people familiar with the matter

WASHINGTON—The Federal Reserve said Monday it will launch a new program to buy loans that financial firms make through the government’s emergency small-business lending program.

The move would establish a secondary market for loans guaranteed by the Small Business Administration’s Payroll Protection Program, part of a $2.2 trillion economic relief package President Trump signed last month to help individuals and businesses affected by the coronavirus pandemic.

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Circle jerk

An issue largely ignored right now: SBA isn't releasing the '3-day' $10k emergency EIDL advances as dictated by CARES & is not communicating with applicants re when/if this $ will ever arrive. So many SmallBiz are in real peril & can't hold out another week/month.

Socialism

Backed securities of ...credit card and student loans! Backed by what? My 65' widescreen Sony? My MBA cert? 🦅 Go America!

pdacosta Fucking A. Another 'new' program to buy more shit. Can I get some money to pay off my home. Trust me, I could stimulate the economy if I didn't have a mortgage.

GregMannarino

NeverTrumpers

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