The Federal Reserve Bank of Boston has selected a Guidehouse–PwC partnership to support a new program that will offer loans to small and medium-sized businesses through a participating lender.
Guidehouse said Monday it will help manage asset purchase intake, due diligence and credit processes for the Main Street Lending Program.
The Boston Fed awarded the industry team a contract after an assessment of proposers’ technical and operational abilities to perform services.
Scott McIntyre, chairman and CEO of Guidehouse and 2020 Wash100 winner, said the company will assist the Federal Reserve in its efforts to help SMBs affected by the coronavirus pandemic.
The program, which is now open for lender registration, allows qualified businesses that are facing cash flow challenges to apply for loans ranging from $250K to $300M.