Emergency-loan program for small businesses operational by Friday: Mnuchin
Trump administration officials vow to launch a massive new loan program for small businesses by Friday in a frenetic effort to prevent them from laying off workers or going out of business as the coronavirus pandemic shuts down large segments of the economy.
“So we encourage people to do that and get them back to work,” said U.S. Treasury Secretary Steven Mnuchin said in an interview Sunday on the CBS program “Face the Nation.” Mnuchin and the president’s top economic adviser, Larry Kudlow, both said on Sunday they intend to start the emergency loan program on Friday, an ambitious timetable for a government whose response during the coronavirus crisis has at times been tardy.
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