In testimony in front of lawmakers on Friday, the Treasury secretary urged Congress to pass a stimulus package this month.
During testimony Friday, Mnuchin said that the next stimulus package should “extend the PPP, but on a more targeted basis for smaller companies and those that are especially hard hit, such as restaurants, hotels and other travel and hospitality businesses.” He also added that he would like to see businesses have the opportunity to re-apply for PPP loans, but that it should hinge on a “revenue test.
Disclosure: Forbes Media LLC confirmed on July 6 that it received a Paycheck Protection Program loan of $5 million to $10 million on April 15.
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