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Press Release
April 23, 2020

Federal Reserve announces it is working to expand access to its Paycheck
Protection Program Liquidity Facility (PPPLF) for additional SBAqualified lenders as soon as possible
For release at 5:45 p.m. EDT
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To facilitate lending to small businesses via the Small Business Administration's Paycheck Protection
Program (PPP), the Federal Reserve on Thursday announced that it is working to expand access to its
Paycheck Protection Program Liquidity Facility (PPPLF) for additional SBA-qualified lenders as soon as
possible.
SBA-qualified PPP lenders include depository institutions, such as banks and credit unions, as well as nondepository institution lenders, such as some Community Development Financial Institutions. Currently, only
depository institutions are eligible to participate in the PPPLF, and over 1000 have already been approved to
access the program.
The SBA's PPP guarantees loans from qualified lenders to small businesses so that those businesses can
keep workers employed. The PPPLF supports the PPP by extending credit to financial institutions that make
PPP loans, using the loans as collateral. The additional liquidity from the PPPLF increases the capacity of
financial institutions to make additional PPP loans.
Additional details on eligibility will be announced shortly.
For media inquiries, call 202-452-2955

Last Update: April 23, 2020