Federal Reserve: Main Street Lending Program borrowers had higher-than-average credit risk

BUSINESSES THAT BORROWED money through the Main Street Lending Program were more likely to default on payments or go out of business compared to those that did not apply for loans, according to a new report by the Federal Reserve Bank of Boston. / AP FILE PHOTO/ANDREW HARNIK
PROVIDENCE – The small and midsized businesses that borrowed money through the Federal Reserve’s pandemic loan program were more likely to default on payments or go out of business compared to those that did not apply for loans, according to a new report by the Federal Reserve Bank of Boston. The report published on Sept.…

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