Steven Mnuchin: Small-business loans in $2.2 trillion package to be available Friday
Added 03-30-20 11:22:02am EST - “Treasury Secretary Steven T. Mnuchin on Monday said Small Business Administration loans in the $2.2 trillion economic rescue package that Congress passed last week should be available starting Friday.” - Washingtontimes.com
CLICK TO SHARE
Treasury Secretary Steven T. Mnuchin on Monday said Small Business Administration loans in the $2.2 trillion economic rescue package that Congress passed last week should be available starting Friday.
That “will be at lightning speed,” Mr. Mnuchin said on Fox Business Network. “We hope later today that we’ll be releasing the documents and the instructions — it’ll be a very simple process.”
He said they expect the $350 billion in small-business loans will cover about 50% of the private workforce.
TOP STORIES Michigan Gov. Gretchen Whitmer hit for hydroxychloroquine crackdown as debate escalates FDA gives emergency approval for antimalarial drugs in treating coronavirus patients Aide to D.C. mayor dies from coronavirus
The SBA loans are intended to cover eight weeks of payroll and about 25% of overhead for qualifying companies with 500 or fewer employees. If the companies use the money to bring back or pay employees the loan will be forgiven.
If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.
CLICK TO SHARE