As if the Federal Reserve wasn't pumping enough money into the system in record speed, (SEE: The EPJ Daily Alert), the Fed just added new methods for some institutions to get their hands on newly printed Fed money.
The Fed on Thursday expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to additional lenders, and expanded the collateral that can be pledged.
The changes will facilitate lending (money printing out of thin air) to small businesses via the Small Business Administration's Paycheck Protection Program (PPP).
As a result of the changes, all PPP lenders approved by the SBA, including non-depository institution lenders, are now eligible to participate in the PPPLF.
SBA-qualified PPP lenders include banks, credit unions, Community Development Financial Institutions, members of the Farm Credit System, small business lending companies licensed by the SBA, and some financial technology firms.
When the PPPLF was announced, the Federal Reserve said the facility would immediately lend to depository institutions and that non-depository institutions would be added as soon as possible.
That has now been done.
Additionally, the eligible borrowers will be able to pledge, whole PPP loans that they have purchased, as collateral to the PPPLF.
The additional liquidity (Fed money printing) from the PPPLF increases the capacity of financial institutions to make additional PPP loans.
Hug your gold coins.
-RW
I married well..Unfortunately it only lasted 14 years. But two great kids. However,
ReplyDeleteafter our divorce, she used all the knowledge we'd obtained in our careers, and built a 100 million a year business by herself with NO DEBT.
When we discussed PPP (we are in a brother/sister relationship) she says: "I told them to piss up a rope!".
Sexual passion be damned, I love that woman!
For real?
DeleteFor real. I'm too old fer sex anyhow. I mean, I can still DO it, but it ain't worth the hassle.
DeleteWhat type of business was it
ReplyDeleteTo answer your question would make it easy to identify her and she would KILL me for that. So I'll try to keep it vague.
DeleteShe provides a product(s) for retail and wholesale businesses, increasingly wholesale. She sells online, world-wide, 24/7.
It started as a boutique walk-in business, but soon morphed into this online business and grew exponentially. In the beginning, it was to provide a service that SHE wanted, but no one could provide. Another market opened up by chance, and she (and her lawyer) ginned up a DBA that same day and she jumped in with both feet. A classic entrepreneur.
Not past tense. Going strong.
Delete