Small-Business Loans Face Delays Even as Coronavirus Program Expands

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Even as a loan program for small businesses weakened by the coronavirus pandemic expands, the first applicants still await funding

WASHINGTON—Despite the Trump administration’s promise to deliver aid quickly, small-business owners who have applied for federally guaranteed loans to keep them afloat during the coronavirus pandemic are still largely waiting for the money, according to business advocates and banking industry officials.

The $350 billion Paycheck Protection Program opened a week ago with loans to companies with 500 or fewer employees and expands Friday to include independent contractors and self-employed individuals.

 

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raycene1 Great job stevenmnuchin1 you guys are doing an incredible job!

I would assume most small businesses are not prepared to navigate the inevitable bureaucracy like major corporations. I wouldn't presume something is nefarious.

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