Village News - Also serving the communities of De Luz, Rainbow, Camp Pendleton, Pala and Pauma

Government nears lending limit on small business program

 

Last updated 4/15/2020 at 4:24pm

NEW YORK (AP) - The government is approaching the $349 billion lending limit on its Paycheck Protection Program that is funneling relief money to the nation's small businesses.

The Small Business Administration says that as of Wednesday afternoon, it had approved more than 1.44 million loans totaling more than $311 billion - up more than $50 billion since Monday. The Trump administration has asked Congress, which set the original ceiling, for another $250 billion for the program. However, that request has stalled in the Senate.

A breakdown of the loans on the SBA website showed that as of M...



For access to this article please sign in or subscribe.



 

Reader Comments
(0)

 
 

Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020