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Main Street Lending Program Borrowers Challenged by High Interest Rates
The Federal Reserve’s pandemic-era Main Street Lending Program reportedly had $1.23 billion in interest and principal payments in default as of Oct. 31. The program delivered $17.5 billion in loans, with much of it having been repaid, but some borrowers are struggling with high interest rates, balloon payments and post-pandemic changes in their customers’ behavior, […]
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