Small business loan program runs out of money, no longer accepting applications

on Thursday morning, as billions of dollars in additional coronavirus aid remain stuck in congressional limbo.

Last week, Treasury Secretary Steven Mnuchin asked Congress to allocate $250 billion more for the program. But a GOP attempt to approve it was rejected by Senate Democrats, who maintained that additional cash should include emergency funding for hospitals and states, as well as some changes to the small business aid program. Republican aides have said conservatives will reject any spending beyond the PPP.

"The President and his Administration will continue to prioritize relief for all those affected by this unprecedented crisis, which is why Congressional Democrats must stop playing politics and blocking additional emergency relief for our Nation's small businesses," White House spokesperson Judd Deere said in a statement.

The program, which launched less than two weeks ago, provides loans at ultra-low interest rates to businesses with fewer than 500 employees to incentivize them to keep staff on payroll, or rehire workers who have already been laid off. If at least 75 percent of the money goes to keep employees on the payroll, the federal government will forgive the loans.

Why are Republicans giving handouts to businesses and people? We are the pull yourself up by the bootstraps people. If you can't make it, you didn't plan well enough in life.

Can you imagine this is putting my 3 generation family business out of business takeourcountryback

It’s hurting the Dems

BretBaier 'WE gave you a helluva lot of money and The Democrats won't give you anymore! We Would! But remember, IT IS THE DEMOCRATS. Nancy Pelosi over there in San Francisco just letting the city decay into 'dread' while showing off her $24K refrigerator!

BretBaier AND Dems turn down a simple one page bill to add more $$$? Please people , vote ALL RED in November.

Welp, sounds like we fucked up.

Why is it so hard to just approve additional funds for this program? Stop holding America hostage for your unrelated Democrats agenda.

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Small-Business Aid Program Set to Run Out of Money Later TodayA small-business loan program at the center of a partisan standoff among congressional lawmakers is expected to run out of money later Wednesday, according to a person familiar with the fund. While Chuck and Nancy showboat so Q1 small biz shutdowns simply pushed into Q2
แหล่ง: WSJ - 🏆 98. / 63 อ่านเพิ่มเติม »

Popular small business rescue program poised to run out of money soonAs thousands of small business owners across the country scramble to stay afloat, the popular federal government-backed loan program meant to save those companies is poised to run out of money. Huh a liberal. They let it. it's an effing joke Tragic.
แหล่ง: ABC - 🏆 471. / 51 อ่านเพิ่มเติม »

U.S. lawmakers argue over coronavirus response as small business program runs outU.S. lawmakers argued Thursday about what the next coronavirus rescue package should include as a program to help small businesses ran out of money and the economy continued to struggle from a monthlong shutdown. President Trump’s claim that he wielded “total” authority in the pandemic crisis prompted rebellion, not just from governors. Just like People can get tested. 🤥🤥🤥🤥Lies Lies lies, but we need more TESTING TESTING TESTING. Life will not go back to normal without TESTING. SpeakerPelosi is a goner in November
แหล่ง: Reuters - 🏆 2. / 97 อ่านเพิ่มเติม »

Small Business Emergency Relief Program Hits $349 Billion Cap In Less Than 2 WeeksThe $349 billion Paycheck Protection Program to boost small businesses during the coronavirus economic crisis has run out of money. Thanks to congressional Dems stalling last week. When will media hold them as accountable for their nonsense as they hold Trump? Too bad losers Things that you know are true but don't have proof: 1) Rush Limbaugh's soul departed his body decades ago 2) Trump weighs over 280 lbs. 3) VP thinks he will be POTUS sooner than later 4) Mnuchin's PPP went to a small number of borrowers 5) senatemajldr does have 'turtle' DNA
แหล่ง: NPR - 🏆 96. / 63 อ่านเพิ่มเติม »