The Federal Reserve established the Paycheck Protection Program Liquidity Facility, or PPPLF, under section 13(3) of the Federal Reserve Act to bolster the effectiveness of the Small Business Administration’s Paycheck Protection Program.

The Paycheck Protection Program provides loans to small businesses so that they can keep their workers on the payroll. The Paycheck Protection Program Liquidity Facility will extend credit to eligible financial institutions that originate PPP loans, taking the loans as collateral at face value.

Details – including a term sheet, and borrowing and operational documentation – are available via the Federal Reserve Discount Window & Payment System Risk.

The following contact information is to be used when submitting PPPLF related documents.

PPPLF Phone: (800) 322-1908

PPPLF Email: ppplfcredit@bos.frb.org