1. Enhance the Small Business Administration’s Paycheck Protection Program (PPP) by supplying liquidity to participating financial institutions through term financing backed by PPP loans to small businesses.
2. Establish a $600 billion Main Street Lending Program, available to companies with 10,000 or fewer employees or those with less than $2.5 billion in revenue. The details of this program are being finalized as the Fed receives input from borrowers, lenders and other stakeholders through April 16.
3. Expand the size and scope of the Primary Market Corporate Credit Facility and the Secondary Market Corporate Credit Facility, as well as the Term Asset‑Backed Securities Loan Facility, which will now include triple‑A‑rated tranches of commercial mortgage‑backed securities.
4. Implement a Municipal Liquidity Facility that will offer as much as $500 billion in lending to states and municipalities.

Read more about the new programs and how they can benefit ICSC members here.