US banks battle technology issues in race for US$310 billion in new small-business aid

WASHINGTON: U.S. bankers racing to grab US$310 billion in fresh small-business aid worked through the night on Tuesday, with many battling ongoing technology problems created by 11th hour changes to the first-come-first-served program, multiple bankers said.

U.S. Treasury Secretary Steven Mnuchin told Fox Business on Tuesday:"We did have systems issues yesterday; we had the SBA team working through the night. I think we've corrected a lot of those issues today." "I have been trying to access E-Tran since 10:30 yesterday. I have not had a connection for longer than a couple minutes. This is not the result of pacing. This is the result of a system that isn’t working," Maria Amoruso, an executive at NexTier Bank in the Pittsburgh area, said in a post on Twitter.

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