April 8, 2020 / 1:59 PM / 2 months ago

U.S. Treasury chief says aiming for details of mid-size company loans this week

WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Wednesday he hoped to announce a new “Main Street” lending program for mid-size companies this week and defended the rollout of a $350 billion loan program for small businesses.

Mnuchin told CNBC the Treasury has been actively working with the Federal Reserve on the Main Street facility designed for businesses with more than 500 employees, adding: “We hope to have an announcement this week with the details on that and get it up and running as soon as we can.”

Reporting by David Lawder and Doina Chiacu; Editing by Chizu Nomiyama

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