SBIA Letter re: Main Street Lending Program

The Honorable Steven Mnuchin
U.S. Department of the Treasury
1500 Pennsylvania Avenue NW
Washington, DC 20220

The Honorable Jerome Powell
Board of Governors of the Federal Reserve System
20th St. and Constitution Ave. NW
Washington, DC 20551

Re: Main Street Lending Program

Dear Secretary Mnuchin and Chairman Powell:

On behalf of our members, the Small Business Investor Alliance (SBIA) appreciates the ongoing work of the Federal Reserve and Treasury Department (“Treasury”) in responding to the unprecedented economic disruption caused by the COVID-19 pandemic. SBIA is a national association that develops and advocates policies that enable capital investments into American lower middle market business. Our membership includes funds electing to be regulated as Rural Business Investment Companies (RBIC), Business Development Companies (BDCs) under the Investment Company Act of 1940, private capital funds, Small Business Investment Companies (SBICs), and similar funds that serve the lower and middle market.

Read the letter >