NEW YORK (AP) — The government’s paycheck protection loan program for small businesses is on hold. The Small Business Administration said Thursday that it reached the $349 billion lending limit for the program.
Thousands of small business owners whose loans have not yet been processed must now wait for Congress to approve a Trump administration request for another $250 billion for the program. Lawmakers have been haggling over whether to extend the program as it stands now, or whether to add provisions that among other things would help minority businesses. It’s unclear when they might reach an agreement that would allow loan approvals to continue
Treasury Secretary Steven Mnuchin and SBA head Jovita Carranza on Wednesday urged Congress to approve more funds. Meanwhile, thousands of businesses are still applying, hoping to get loans when Congress approves an extension of the program.
Hey Steverino! Didn’t you get $500 billion in mad money in the Coronavirus Corporate Slush Funding Act? What are you waiting for???
Did all the money go to tRump businesses?
It’s all about Moscow Mitch now. Munchkin and Pelosi agree on most of it anyway. Mitch is the one not trying to reach a settlement here.
It might be nice to see where it went. My guess is that a huge percent went to “processing.”
Didn’t Donnie say all the money would be gone by Easter? He was just a few days off.