U.S. Approves $168 Billion in Small Business Loans Since Program Began
April 13, 2020
2:17 pm
The U.S. has approved more than 650,000 loans for employers since the launch of the Paycheck Protection Program.
“We’re now at 661,000 loans approved. …$168 billion have been approved by this government,” White House economic adviser Larry Kudlow said on Friday on FOX Business Network.
About $350 billion in forgivable loans are available to small businesses as part of the $2.2 trillion stimulus package passed in March. Employers can use the funds to cover the costs of salaries, bonuses, retirement benefits, parental leave and health care benefits.
Currently, Congress is negotiating a second bill that could add $250 billion to the program.
