Federal Reserve actions to support small businesses are complex. These infographics are not! Federal Reserve Bank of Cleveland wants to share the information with our Veteran Community to help small-business leaders better understand the information circulating about the programs and financial assistance that is available as a result of COVID-19.
A couple of specific infographics to point out are the Main Street Lending Program and the Paycheck Protection Program Liquidity Facility. These infographics specifically target the challenges that are faced, fully explained details, and the goals of what they can accomplish. During COVID-19, with all the travesties happening to small businesses, the Federal Reserve was granted authorization from Congress, to revive and create several rare lending programs targeted to assist the needs of those impacted. The Federal Reserve wants small business leaders to know they are working to help them and have created a source that is not confusing but written out to identify specific needs that apply to unique situations.
The Federal Reserve Bank of Cleveland’s Infographic Library is easy to navigate. You can select a topic to narrow down the selection, including Banking, Consumer, Housing, Small Business, or Workforce. Once you make your selection, downloads become available,and discussion points to help you fully understand what program, information, or updated news report fits your specific needs.
Here is just a sample of some of the information you will find in each category:
Each category provides full details on how companies/consumers can use borrowed funds, how long they have to pay back the loan, criteria to obtain the credit, current news, and further links:
Banking:
Federal Reserve Main Street Lending Program
Federal Reserve Paycheck Protection Program Liquidity Facility
Consumers:
Federal Reserve Municipal Liquidity Facility
COVID-19 is Making the Economy Sick, Too
Housing:
Research (in) Brief: Housing Vouchers
Small Businesses:
Research (in) Brief: Fintech Lending Expands Small Businesses Options
Research (in) Brief: Economic Research and COVID-19 Policies
There is plenty more to read and study please follow the link below to access the full library and resources the Federal Reserve Bank of Cleveland has to offer: