Jump to Content
ABA: The American Bankers Association
Statement

ABA Statement on Revised Main Street Lending Program Term Sheets and FAQ

“We appreciate the hard work by the Federal Reserve and Treasury Department to stand up the Main Street Lending Program, as well as the additional details they provided today. Banks of all sizes continue to help their business customers weather the economic disruption from COVID-19, and the Main Street Lending Program has the potential to help even more businesses. The changes announced today should broaden participation in this program, but we encourage the Fed and Treasury to consider additional adjustments including further lowering the minimum loan size, increasing flexibility in loan terms and offering additional reference rate options. Doing so would increase bank participation and allow this program to reach even more small and mid-size businesses in need.

“America's banks will work with the Fed and Treasury to help make the Main Street Lending Program a success, as they continue to provide a range of other assistance to their business customers across the country.”

###

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.8 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard nearly $19 trillion in deposits and extend $11 trillion in loans.

Press Contact

Ian McKendry

(202) 663-5473

Contact Ian
Useful Links

Resources for the Media

Media Contacts

All inquiries from the press can be directed to one of our press contacts.

ABA Expert Photos

Hi-Res photos for use by the press.

ABA Media Appearances

Getting the industry's message out – in print and on the air – about banks' health and lending, as well as policies that are harmful to economic recovery.

Media Credentials

Complimentary press registrations are available for select events.

Join Our Media Lists

Want to be added to our news release list? Sign up here.

RSS Feed

Get ABA press releases via RSS.