Main Street Funds Diverted to Small Business

The Main Street Lending Program for small businesses will have some of its lending diverted to small businesses impacted by Covid-19.

The Federal Reserve is changing the rules of its Main Street Lending Program to help smaller businesses that have been struggling to get by while waiting for additional stimulus from Congress. 

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Small Businesses Betting on Holiday Boost

Small businesses are hoping this holiday season helps balance out losses from early spring, report CNBC.

Unlike most retailers, which see a sales peak over the winter holidays, revenue at Potomac River Running, a chain of 10 specialty running stores in Washington, D.C., and Virginia, is highest during the spring and summer.

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More Money for Distressed Small Business

According to CNBC, the Treasury and the House may be close to an agreement on a further round of funding for distressed businesses.

As House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin try to hash out another coronavirus relief package, distressed business owners continue to wait in the wings.

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