Small Business Loan Hold Up

Congress is rushing to shovel out hundreds of billions of dollars more for small business loans amid worries that the $350 billion heap in last month’s $2.2 trillion relief bill won’t be enough. How about first patching the Paycheck Protection Program’s holes?

The Small Business Administration on Friday reported that 600,000 loans totaling $161 billion had been approved, but businesses complain that lenders aren’t disbursing money fast enough. Banks, on the other hand, complain that the agency’s application portal has experienced…

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