The Small Business Administration’s Rescue Loan Program runs out of cash

America’s Small Business Administration is out of money after reaching its $349 billion limit. According to a statement issued on the SBA website yesterday, it will no longer be able to issue any new loans.

The program was designed to help companies suffering difficulties in the wake of the coronavirus pandemic shutdown. In addition, however, along with not being able to accept new applications for the Paycheck Protection Program, the SBA also said it wasn’t able to enrol new PPP lenders either.

Source Article

Frederic M. Kolodziej

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