Federal Reserve Board of Governors expands eligibility criteria for borrowers under the Paycheck Protection Program Liquidity Facility (PPPLF)

 

 

Federal Reserve Board of Governors Expands Eligibility Criteria for Borrowers under the Paycheck Protection Program Liquidity Facility (PPPLF)

 

Yesterday, April 30, the Federal Reserve Board of Governors expanded the eligibility criteria for borrowers under the Paycheck Protection Program Liquidity Facility (PPPLF) to include all SBA-qualified PPP lenders, including designated non-depository community development financial institutions (CDFIs). The press release and updated program terms can be found here for your reference. Frequently asked questions for the PPPLF can be found here. For more specific questions, please send an email to PPPLF@chi.frb.org.

 

At last Thursday’s The Fed and Main Street during the Coronavirus Pandemic, representatives of CDFIs highlighted the importance of access to the PPPLF to support the industry’s ability to serve their borrowers in low-moderate income communities and communities of color.

 

The Federal Reserve Bank of New York, together with our colleagues across the Federal Reserve System, remain committed to listening to voices from Main Street as these conversations are instrumental in informing our approach to how we can best support our communities.