"As lenders get more information about the new [SBA loan] program, “most of them are saying, given what they know today, their likelihood of participation is getting smaller and smaller." https://www.wsj.com/articles/the-rush-for-350-billion-in-small-business-loans-starts-friday-banks-have-questions-11585828455 1/2

The Fed's planned Main Street Lending scheme could very well encounter similar issues, which is no doubt why its proponents have chosen to take another two weeks to work out its details. There's clearly a tragic speed vs. success of execution trade-off to such programs.