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Top US banks may shun small-business rescue plan on liability worries

Added 04-02-20 04:04:02am EST - “Congress last week passed a $2 trillion stimulus package that includes $349 billion aimed at small firms” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Top US banks may shun small-business rescue plan on liability worries”. Below is an excerpt from the article.

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Head of Restructuring and Distressed M&A at Gordian Group LLC Peter Kaufman argues there is no more easy money for a lot of companies as the coronavirus hits the economy.

Top U.S. banks have threatened to give the federal government's small-business rescue program a miss on concerns about taking on too much financial and legal risk, five people with direct knowledge of industry discussions told Reuters.

Seeking to help millions of small businesses whose operations have either shut down or have been dramatically curtailed by the coronavirus pandemic, Congress last week passed a $2 trillion stimulus package that includes $349 billion aimed at small firms.

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