The Federal Reserve is also wading into uncharted waters with its proposed Main Street Business Lending Program as part of the estimated ~$4 trillion of capacity created by the CARES Act. The program is light on details to date, but the Fed is working to put it together. Some estimates predict an allocation of ~$1 trillion to this particular main street initiative, which will be focused on small businesses but also include mid-size companies with up to 10,000 employees. The Fed will look to bank intermediaries in order to distribute its loan program. It remains to be seen whether the program will truly reach small businesses in the most need, or be gobbled up by mid-size corporations.
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