Fed's Main Street pandemic support program off to slow start

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Hi Mike Ross you're reporting the fed's mainstreet pandemic support program is off to a slow start the federal reserve says it made just eight loans in the main street lending programs first month of operation the fed made the disclosure in its first report on the program Thursday the main street lending program is designed to help small and medium sized companies get through the pandemic the fed has said it can provide up to six hundred billion dollars to cash strapped companies through the program but so far it provided seventy six point nine million dollars in loans and starting operations July sixth under the program banks make the actual loans but the fed will buy ninety five percent of the loan Mike Rossio Washington

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