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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.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $20.3 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $15.8 trillion in deposits and extend nearly $11 trillion in loans.

Press Contact

Ian McKendry

(202) 663-5473

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