WASHINGTON– The Federal Reserve stated Monday it would create a new program to fund loans that banks and other loan providers make through the government’s emergency small-business financing program, according to individuals familiar with the matter.
The relocation will free up financial firms to make more loans ensured by the Small Business Administration’s Payroll Security Program, part of a $2.2 trillion financial relief plan President Trump signed last month to assist people and companies affected by the coronavirus pandemic.
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source https://jobsearchtips.net/fed-preparing-to-purchase-new-small-business-payroll-loans/
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