Small business lending program on hold after reaching limit
Last updated 4/16/2020 at 10:22am
JOYCE M. ROSENBERG and ANDREW TAYLOR
AP Business Writer
NEW YORK (AP) — The government's lending program for small businesses is on hold.
The Small Business Administration said Thursday that it reached the $349 billion lending limit for the program, after approving nearly 1.7 million loans.
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,...