Small Business Aid Program Set to Run out of Money
- 4 years ago
Small Business Aid Program
Set to Run out of Money $350 billion set aside for small businesses
as part of the $2.2 trillion CARES Act
will likely run dry on Wednesday, April 15. According to the Small Business Administration,
more the 1.3 million applications have been approved. The loan applications have
totaled more than $289 billion. Both sides of Congress
continue to negotiate the extent
to which the funds will be replenished. While Democrats and Republicans
have agreed on an amount of $250 billion,
an issue is how to restrict the funds. Sen. Chuck Schumer
(D-NY), via 'WSJ' Sen. Mitch McConnell,
R-KY, 'WSJ'
Set to Run out of Money $350 billion set aside for small businesses
as part of the $2.2 trillion CARES Act
will likely run dry on Wednesday, April 15. According to the Small Business Administration,
more the 1.3 million applications have been approved. The loan applications have
totaled more than $289 billion. Both sides of Congress
continue to negotiate the extent
to which the funds will be replenished. While Democrats and Republicans
have agreed on an amount of $250 billion,
an issue is how to restrict the funds. Sen. Chuck Schumer
(D-NY), via 'WSJ' Sen. Mitch McConnell,
R-KY, 'WSJ'