Local lenders report slow start to Main Street Lending Program

Nancy Lavin

08/06/2020

Federal Reserve Minutes — LOCAL LENDERS participating in the Main Street Lending Program reported a slow start since applications opened last month. / AP FILE PHOTO/PATRICK SEMANSKY

PROVIDENCE – If the outpouring of applications for the Paycheck Protection Program amounted to a flood initial interest in the new Main Street Lending Program might be more of a trickle. At least one local lender that has signed up to participate in the $600 billion Federal Reserve program reported little-to-no interest from Rhode Island…

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