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breaking news from the fed as well as they tweak some main street lending steve leesmans got that steve carl thanks yeah the federal reserve uh changing some of the rules to try to get this main street lending facility going it cut the minimum loan size for three of its main street lending programs to a hundred thousand dollars from two hundred and fifty thousand dollars uh the fences the fees have also been adjusted to encourage provision of smaller loans um also allowing the exclusion of two million dollars of loans from ppp uh guys this is the second time that the uh that i counted the fed has lowered the minimum on this uh program trying to get it going its supposed to be a 600 billion dollar program john but so far to date theyve only done 400 loans worth 3.7 billion and its been much criticized out there for its terms being too tough and and not really encouraging uh borrowing from the federal reserve on this uh critical program that might help the economy whether the corona
