okfine
Diamond Member
The money for stimulus checks and SBA loans is gone. Banks are saying they have approved loans, but have NOT received a dime. Many are asking where the hell did all that money go?
"On Thursday morning, the $349 billion emergency small business lending program officially tapped out. The Small Business Administration officially ran out of money for the Paycheck Protection Program, according to a message for lenders posted on the administration's website."
"Bottom line: Treasury Secretary Steven Mnuchin and Democrats are talking Thursday to try and to reach agreement on a package that will immediately increase funding for the program. But they aren't there yet and this is no longer a theoretical exercise. The program had, and continues to have, glitches and difficulties. But it also rolled through $349 billion in less than two weeks. That's how urgent it is for small business owners. That's how desperate, how flat catastrophic, the economic situation is amid the coronavirus pandemic. "
"The largest small businesses are getting approved for the U.S. government’s paycheck protection program"
"The Small Business Administration said that banks have approved nearly $250 billion in emergency lending to American small businesses, but there is scant evidence that much of that money is actually making its way into the hands of business owners, many of whom say time is running out before the coronavirus epidemic could force them to shutter permanently."
"On Thursday morning, the $349 billion emergency small business lending program officially tapped out. The Small Business Administration officially ran out of money for the Paycheck Protection Program, according to a message for lenders posted on the administration's website."
"Bottom line: Treasury Secretary Steven Mnuchin and Democrats are talking Thursday to try and to reach agreement on a package that will immediately increase funding for the program. But they aren't there yet and this is no longer a theoretical exercise. The program had, and continues to have, glitches and difficulties. But it also rolled through $349 billion in less than two weeks. That's how urgent it is for small business owners. That's how desperate, how flat catastrophic, the economic situation is amid the coronavirus pandemic. "
The government's small business loan money is gone. Now what? | CNN Politics
The money is gone.
www.cnn.com
"The largest small businesses are getting approved for the U.S. government’s paycheck protection program"
"The Small Business Administration said that banks have approved nearly $250 billion in emergency lending to American small businesses, but there is scant evidence that much of that money is actually making its way into the hands of business owners, many of whom say time is running out before the coronavirus epidemic could force them to shutter permanently."
SBA touts $250 billion loan approvals, but there’s little evidence small businesses are seeing cash
The Small Business Administration said that banks have approved nearly $250 billion in emergency lending to American small businesses, but there is scant...
www.marketwatch.com