The Government's Small Business Lending Program is Out of Money
Small businesses largely affected by the COVID-19 pandemic that haven’t received assistance from the United States government will likely not be receiving assistance any time soon. The government’s Emergency Small Business Lending Program is out of the $349-billion set aside to help small businesses. Treasury Secretary, Steven Mnuchin and Democrats are reconvening to try and reach an agreement on a package that will immediately increase program funding.
A deal needs to be reached soon for the money to have any opportunity to be replenished this week. If no deal is reached, not only will the program go without replenished funds through the weekend, but possibly on through the rest of the month.