Main Street Lending Program Definition [Video]
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Main Street Lending Program Definition [Video]

The Main Street Lending Program was run by the Federal Reserve System (Fed) to support small- and medium-sized businesses and nonprofit employers impacted by the COVID-19 pandemic.

The program made available $600 billion in loan facilities to employers, who must have been in good financial standing prior to the onset of the COVID-19 crisis. To encourage banks to lend, the Fed bought 95% of new or existing loans to qualified employers, while the issuing bank kept 5% to discourage irresponsible lending. In exchange for the loan, employers must have made reasonable efforts to maintain payroll and retain workers. The Fed announced the Main Street Lending Program on April 9, 2020.

On Nov. 19, 2020, Treasury Secretary Steven Mnuchin said he would not reauthorize extending the Main Street Lending Program past Dec. 31, 2020. However, the Fed extended the program to Jan. 8, 2021, to process loans that were submitted on or before Dec. 14, 2020. The program ended on Jan. 8, 2021.

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WorkingNation Overheard: Shari Krull on social capital building on the path to a good career [Video]
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WorkingNation Overheard: Shari Krull on social capital building on the path to a good career [Video]

25-year-old nonprofit Streetwise Partners brings together unemployed and underemployed adults with volunteer mentors to create a social network that will help launch their careers.“We have a very structured model that is very intentional around professional skills building and social capital building. Eighty-percent of jobs are found through networking. Who you know matters,” explains Shari Krull, the nonprofit’s CEO. WorkingNation sat down with Krull at Presented by JFF Horizons – See Beyond 2022 in New Orleans.“Our mentoring program is very unique. We apply a two-to-one mentoring model, so it's two mentors to one mentee. So it's just double the network, double the access. Our mentors arrange for at least four informational interviews for our participants, so the network starts to increase” she explains.Krull says hard skills are not enough, so there is a focus on soft skills as well.“How do you introduce yourself with confidence if somebody asks you in an interview, tell me about yourself. How do you leverage a professional network? How do you identify relationships so that you have a professional reference? How do you dress for particular interviews? What should you put on your resume? All of these skills that unless you were born into a household where you could absorb them through osmosis, you're really out of luck.”Krull says Streetwise Partners is proud of the outcome this social capital building has achieved – than 70% of its graduates are employed within a year and starting annual salaries increase over the year from $10,000 to $60,000. Find out more about Streetwise Partners:https://streetwisepartners.org/Our #WorkingNationOverheard interview series lets you listen in on conversations and discussions about employment and education taking place at major conferences around the country. You can find past installments at https://workingnation.org/overheard/.Check out what they are saying at JFF Horizons – See Beyond 2022 in New Orleans: https://youtube.com/playlist?list=PL2EXy_Hi93bLuN_PsvusC33vJFM4ahZ3TYou can read more about this year's conference at https://horizons.jff.org/ and learn more about Jobs for the Future – JFF at https://www.jff.org/.Follow the conversation on social media: #WorkingNation #WorkingNationOverheard #JFFHorizons #SeeBeyond #futureofwork #workforcedevelopment #skillsgap #jobs #work #career #skills For stories about solutions to the jobs skills gap disrupting our economy and the future of work, visit WorkingNation at https://workingnation.org/. Connect with WorkingNation on social media: Subscribe to WorkingNation on YouTube: https://www.youtube.com/c/WorkingNation_videoFollow @workingnation on Twitter: https://twitter.com/workingnation Follow WorkingNation on LinkedIn: https://www.linkedin.com/company/working-nation/Like and follow our WorkingNation Facebook page: https://www.facebook.com/workingnation/ Follow WorkingNation on Instagram: https://www.instagram.com/workingnation/

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Is a Stroller and Car Seat Combo Worth It? [Video]
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Is a Stroller and Car Seat Combo Worth It? [Video]

To see the full story, go to https://www.consumerreports.org/babies-kids/strollers/best-stroller-and-car-seat-combinations-a7840266271/?EXTKEY=YSOCIAL_YTJoin CR at https://CR.org/joinviaYT to access our comprehensive ratings for items you use every day. CR is a mission-driven, independent, nonprofit organization.