By Andy Medici and David Ajamy – Dallas Business Journal
Jun 26, 2020, 5:50pm CDT Updated Jul 2, 2020, 3:11pm CDT
The Federal Reserve’s $600 billion Main Street Lending Program has been signing up lenders — but not all DFW banks have joined up.
The program — first announced as part of the Fed’s larger $2.3 trillion package of loan and bond initiatives — has been adjusted several times to lower loan limits for applicants, now with a minimum size of $250,000. That’s down from a $500,000 minimum announced in May, and the $1 million limit originally envisioned. The loan terms have also been lengthened from four years to five years, according to an announcement Monday by the Federal Reserve.
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