Federal Reserve expands Main Street program to smaller firms

By Christopher Rugaber | The Associated Press
The Federal Reserve will reduce the minimum loan level in its small business lending program and waive some fees to try to boost participation in a program that has so far provided little assistance to struggling companies.
The Fed announced Friday that it will support loans of as low as $100,000 in its Main Street Lending Program, down from an earlier minimum of $250,000. The Main Street program seeks to support small and mid-sized businesses by buy