jimnyc
04-03-2020, 10:57 AM
I still think the longer this lasts... 1200 will end up being peanuts for a lot of folks. Everyone still needs groceries and medicine and RENT money and who knows what else. Let's hope for sooner than later a somewhat of a resolution/cure/vaccine something. I am glad to see small business is getting in first and not all the monsters first.
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‘Main Street Rescue’: Trump Admin Pushes Out Hundreds of Millions in Small Business Loans on First Day
President Donald Trump’s Paycheck Protection Program (PPP) through the Department of Treasury and Small Business Administration has already on its first day pushed out more than $620 million to small businesses nationwide mostly through community banks.
A senior Treasury Department official told Breitbart News on Friday morning that as of 10:30 a.m. eastern time, a total of 1,652 loans were given out through 239 different banks for a total of $628,371,561. Most of the big banks like JP Morgan Chase, Wells Fargo, and Citigroup did not have programs online—only Bank of America did—by this time, so this means community banks nationwide are the ones stepping up to push the money out to small businesses affected by the coronavirus crisis.
“When the unprecedented PPP loan program for America’s small businesses went live in the early morning hours of April 3, the community banks were the ones ready to go,” the senior Treasury Department official told Breitbart News. “Unlike the big banks that are coming online later in the day, the community banks were up and running and ready to serve their small businesses. America’s community banks are the real heroes.”
Rest - https://www.breitbart.com/economy/2020/04/03/exclusive-main-street-rescue-trump-admin-pushes-out-hundreds-of-millions-in-small-business-loans-on-first-day/
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‘Main Street Rescue’: Trump Admin Pushes Out Hundreds of Millions in Small Business Loans on First Day
President Donald Trump’s Paycheck Protection Program (PPP) through the Department of Treasury and Small Business Administration has already on its first day pushed out more than $620 million to small businesses nationwide mostly through community banks.
A senior Treasury Department official told Breitbart News on Friday morning that as of 10:30 a.m. eastern time, a total of 1,652 loans were given out through 239 different banks for a total of $628,371,561. Most of the big banks like JP Morgan Chase, Wells Fargo, and Citigroup did not have programs online—only Bank of America did—by this time, so this means community banks nationwide are the ones stepping up to push the money out to small businesses affected by the coronavirus crisis.
“When the unprecedented PPP loan program for America’s small businesses went live in the early morning hours of April 3, the community banks were the ones ready to go,” the senior Treasury Department official told Breitbart News. “Unlike the big banks that are coming online later in the day, the community banks were up and running and ready to serve their small businesses. America’s community banks are the real heroes.”
Rest - https://www.breitbart.com/economy/2020/04/03/exclusive-main-street-rescue-trump-admin-pushes-out-hundreds-of-millions-in-small-business-loans-on-first-day/