Congressional leaders reached an agreement with the White House to provide more money for small business loans, hospitals and COVID-19 testing.
Congressional leaders and the White House reached a deal Tuesday to increase funding for a popular small business loan program that quickly ran out of money last week as businesses scrambled for a lifeline during the coronavirus pandemic, the Senate’s top Democrat said.
President Trump on Tuesday tweeted his support and urged both the Senate and House to pass the measure. The package announced Tuesday would set aside $60 billion for very small businesses or businesses without an existing relationship with a bank. Democrats made this set-aside a priority because many such businesses — including women- and minority-owned companies — complained they were shut out of the initial phase of funding.
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