Fed says it’ll expand its “main street” lending program even further – to provide credit access for non profits

Improved credit access for non-profits – are they referring the vast majority of hedge funds?

That is a joke folks, K?
Here we go, headlines via Reuters:

Fed proposal to expand its main street lending program to provide access to credit for nonprofit organizations

  • says it is seeking public comment on its proposal for nonprofits by Monday, June 22
  • proposed expansion would offer loans to small and medium-sized nonprofits in sound financial condition before coronavirus pandemic hit
  • interest rate, deferral of principal and interest payments, and five-year term are the same as for main street business loans

There are further T&Cs but I won’t go into them here.

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