Fed’s Main St. Loan Program Going Mostly to $1 Million-Plus Borrowers

The Federal Reserve’s Main Street Lending Program, aimed at supporting small to mid-size businesses through the coronavirus pandemic, has mostly made loans in the millions of dollars, according data disclosed by the central bank Tuesday.

Of the 118 loans bought by the Fed’s program through the end of August, only 11 were under $1 million. Only one, at $265,000 was close to the $250,000 minimum loan size.