Small Business Emergency Relief Program Hits $349 Billion Cap In Less Than 2 Weeks

Jovita Carranza, head of the Small Business Administration, has urged Congress to appropriate more money for the Paycheck Protection Program as soon as possible.Jovita Carranza, head of the Small Business Administration, has urged Congress to appropriate more money for the Paycheck Protection Program as soon as possible.

"The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding," a Small Business Administration spokesperson said in an emailed statement Thursday."Similarly, we are unable to enroll new PPP lenders at this time."The program was passed as part of the CARES Act, Congress' $2 trillion economic relief bill. The program was plagued by technical difficulties and delays from its opening on April 3.

On Wednesday, Treasury Secretary Steven Mnuchin and Small Business Administration Administrator Jovita Carranza urged Congress to appropriate more money for the program as soon as possible. "By law, the SBA will not be able to issue new loan approvals once the programs experience a lapse in appropriations," they said"We urge Congress to appropriate additional funds for the Paycheck Protection Program — a critical and overwhelmingly bipartisan program — at which point we will once again be able to process loan applications, issue loan numbers and protect millions more paychecks," Carranza and Mnuchin added.

And SpeakerPelosi sits home eating ice cream while showing off her $25k fridge.

Please stop with the partisan comment about both sides. This is your side (the Dems) PERIOD that is holding up the funding.

Bull. Shit.

Because large multi-billion dollar businesses grabbed the money pretending divisions were individual small businesses.

It’s incompetence. The Gov will never run out of money. The USG holds $23T in the Federal reserve. They only way programs go broke is officials were asleep at the switch.

Turn Darth traitor upside down and shake him until his pockets look like rabbit ears

What about workers? All you talk about is business but what about workers?

Good. Dems hold your ground. Don't give them another dime unless we get some real relief. 1200 for 10 weeks....FOH. business owners got their relief long before the coronavirus. If 1200 can last a family 10 weeks. Trump's tax scam, can last them 10 years.

Wellllll fuck. mcuban

Why would Democrats block additional funds over partisan demands such as voting by mail? Is now the appropriate time for that?

How much did Ruth Chris get again?

What The Holy Fk

Better look at the books want to bet trump got a hefty portion of it?

great.

Did the big corporations get a loan? No. Just give small businesses the money they need. This is stupid.

ANyBoDy LooKiN FoR JaReD?🐷

But wait...dictator Trump said he cares about people and small businesses...I thought he was the smartest person in this country, how could he get numbers wrong?

WHEN will we know where it went? We should have access to that info.

Don't worry, the ultrawealthy still have a few trillion in tax dollars Trump is handing out to them (without oversight). GOPCorruptionOverCountry WorstPresidentInHistory

Probably because millionaire Trump adviser Larry Kudlow's wife took it all.

Nice! We haven’t even applied yet! Winning! So much winning!

Pelosi sucks RecallTheSpeaker

Thanks Democrats. Hope you enjoy your recess

Thankfully all the hedge funds, airlines, cruise ships and casinos got their money....ya know, the ones who needed it the most

Typical

🙋‍♀️Who else wants to see list of recipients 👀

No more slush fund for Trump's friends. Let's see the names of who got the money.

Why am I not surprised

That's about 13,000 per US Small Business. I imagine business with overpaid lawyers were first to fill out forms and get money... so are we really helping those who need it most? Maybe we should also stop rentseeking and try to be goodnews to those most in need.

Check their pockets

Tell your friend Pelosi to get back to Washington and fund $$ for the people! But, no! she’s too busy eating expensive ice cream! Such a disgrace.

I’d like to see a list of the company names who received funds, how much they received, which lender they applied through, the date of their application, the date they were approved, and date funded.

What a s***show

It’s been a month, I don’t believe this

That was fast. Typical team trump. The trump university of paycheck protection.

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

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