By Kim Khan
Investing.com – The U.S. Treasury Department will be requesting more funds for its small business lending program, The Washington Post reported Tuesday.
The Treasury will ask Congress for another $200 billion (and possibly $250 billion) to top up the $349 billion already approved, the paper said. Its request could come as soon as today.
The program to guarantee loans for small businesses to help them retain employees during the Covid-19 pandemic has seen huge demand, with the number of applications indicating more funds would be needed.
Speaking last week, Treasury Secretary Steve Mnuchin said he was confident more funding would be forthcoming for the program if necessary.
Treasury to Ask for $200B More for Small Business Loans – Report
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