Michael Haith Washington president pandemic economy Government Michael Haith Washington

Fed's program for loaning to Main Street off to slow start

www.clickorlando.com

WASHINGTON – Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand.Yet so far, a Federal Reserve lending program set up specifically for small and medium-sized businesses like his hasn't been much help.

He can't find a bank that's participating in the program, and he isn't clear on a lot of the details about how it works. For example, he isn't sure how much he could borrow. “We are trying to figure it out, and trying to find a bank that is working with the government on this,” Haith said.

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