Small businesses say they needed the money yesterday and are hoping for quick relief — and millions are expected to apply on the first day. However, checks might not start going out for a week or more.
"We're now hearing from bankers that they may not want to get into the program because the law doesn't have a whole lot of specifics in it, yet the phone lines are jammed with business owners begging for loan applications," Brower said. Banks"don't know what the rules are, and they're afraid if they lend money to someone they shouldn't have, they'll be required to pay it back to the government.
On Thursday, Democratic presidential candidate Joe Biden drew attention to the potential administrative issues of the coronavirus relief package. He pressed the administration to get loans out quickly and not just to"the well-connected" or a few"splashy" examples.
I love well thought out plans
Mnuchin said banks required higher interest rates to participate. Trump is not a leader. Trump is a moron.
All this could have been avoided if the federal government just sends monthly payments until America is open for business. Why do we have to make things so damn complicated? $2000 per adult $500 per dependent child. It is THAT simple.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »