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Is the PSP Lending Program a direct lender?

April 26, 2017Lender lending program PSP

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Is the PSP Lending Program a direct lender?

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A. No, the program does not make direct loans or originate loan transactions. It works through a network of intermediaries that present the General Board with loan participation opportunities for a variety of community development projects. By participating in the loan, the intermediary takes a subordinate position to the General Board and provides a small portion of the total funds that are delivered to the final borrower.