Donald Trump Congress Small businesses Coronavirus

U.S. small businesses wait for more funding after $349B coronavirus fund dries up

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globalnews.ca

The government’s lending program for small businesses is tapped out, and business owners who still need loans are waiting on Congress to approve more funding.

The Small Business Administration said Thursday that it reached the $349 billion lending limit for the program, after approving nearly 1.7 million loans.

Thousands of small business owners whose loans have not yet been processed must now look to 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 add provisions that, among other things, would help minority businesses.

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