Govt lending program on hold after reaching lending limit
NEW YORK (AP) — The government’s paycheck protection loan program for small businesses is on hold.
The Small Business Administration said Monday that it reached the $349 billion lending limit for the program.
Thousands of small business owners whose loans have not yet been processed must now wait for Congress to approve a Trump administration request for another $250 billion for the program.
Lawmakers have been haggling over whether to extend the program as it stands now, or whether to add provisions that among other things would help minority businesses. It’s unclear when they might reach an agreement that would allow loan approvals to continue.
Treasury Secretary Steven Mnuchin and SBA head Jovita Carranza on Wednesday urged Congress to approve more funds. Meanwhile, thousands of businesses are still applying, hoping to get loans when Congress approves an extension of the program.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Southern Jaguars return to Mumford Stadium for only home game of the...
Mary Bird Perkins employee raises $50k in fight against cancer after running...
Louisiana Marathon returns to downtown Baton Rouge
Les Miles placed on leave
LSU making decisions to better handle sexual abuse allegations
East Iberville overcomes 14 point deficit to claim 1A State Title
LSU radio crew calls road games from home
Southeastern caps off historic weekend with sweep of Mississippi Valley
Central's Ethaniel Rizan big on size and heart
Baton Rouge CC gets huge win over Louisiana Community Christian