April 30, 2020 / 9:37 PM / 24 days ago

Fed broadens access to 'PPP' facility beyond banks

April 30 (Reuters) - The Federal Reserve expanded access to a small business lending program beyond banks on Thursday, allowing a broader set of institutions to participate.

All lenders approved by the Small Business Administration to participate in the Paycheck Protection Program, including non-depository financial institutions, will now have access to a liquidity facility with the Fed.

Reporting by Jonnelle Marte and Ann Saphir; Editing by Tom Brown

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