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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