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Main Street Lending Program

1 May 2020 8:53 AM | Anonymous

The US Federal Government announced on April 30, 2020, that nonprofit organizations will not be eligible for direct loans under the new Main Street Lending Program, a program established to provide $600 billion in loans for small and mid-sized businesses coping with the COVID-19 pandemic.   

Nevertheless, eligible nonprofits may apply for loans under the Payroll Protection Program, and there is also indication that the Federal Government is evaluating a separate program specifically tailored to nonprofits.

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