Fed eases terms of Main Street loans, says registration will begin soon

By Howard Schneider and Jonnelle Marte WASHINGTON (Reuters) - The U.S. Federal Reserve eased the terms of its "Main Street" lending program on Monday, cutting the minimum loan size in half to $250,000 and lengthening the term by a year to encourage more businesses and banks to participate. The central bank also said registration for the program will begin soon and that lenders will be able to start making the loans to small and medium-sized businesses shortly thereafter.

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