Government Assistance Programs for ALA Members
Federal Reserve Board
The Federal Reserve’s Main Street Lending Program was created to support the continued lending of credit to small- and medium-sized business who were on solid financial ground before the COVID-19 pandemic swept across the country. There are three different loans that make up the program, each with its own eligibility and application requirements. The loans associated with this program are subject to conventional loan guidelines and are non-forgivable. Interested businesses should apply through an eligible lender.
To learn more, refer to the program’s frequently asked questions on the Federal Reserve website.
Small Business Administration
As previously shared, the SBA has numerous programs designed to help small businesses during the COVID-19 pandemic. Learn more about the different programs on the SBA website.
Canada has been proactive in creating and offering programs designed to help businesses and individuals dealing with the effects of the COVID-19 pandemic. Learn more about all of the available assistance opportunities on the Department of Finance Canada website.