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

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Hi Mike Rossi a reporting the fed issues its first report on a program designed to help businesses during the pandemic a six hundred billion dollar federal reserve program designed to help small and medium sized businesses during the pandemic made just eight loans in its first month of operation the fed reports it provided seventy six point nine million dollars in loans since July sixth the largest loan for fifty million dollars went to a casino operator in mount Pocono Pennsylvania the main street program requires borrowers to make commercially reasonable efforts to keep their workers but it doesn't require businesses to re hire any laid off workers Thursday's report came one day ahead of a congressional oversight hearing on the program Mike Rossi a Washington

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