WASHINGTON (WKOW) -- In the first month of the Federal Reserve's Main Street Lending Program, just eight loans were given out -- one of which went to a Madison dental practice.
The Fed has said it will provide up to $600 billion to help cash-strapped companies through the Main Street program. The program started July 6.
In the first report on the program's progress, the Fed says it provided eight loans totaling $76.9 million.
Federal Reserve records show Madison-based Cherry Tree Dental, LLC received a loan of $12.3 million, which is the second highest amount.
The biggest loan of $50 million went to a casino operator in Mount Pocono, Pennsylvania.
The Associated Press contributed to this report.