Washington (awp/afp) – More than $1.8 billion in loans were requested on Friday noon in the United States by small and medium-sized businesses, facing the coronavirus crisis, as part of the recovery plan of the first global economy, said the Treasury Secretary.
Of the $350 billion in loans promised as part of the American recovery plan, $1.8 billion “is currently being processed” by the administration, Steven Mnuchin tweeted early Friday afternoon.
These funds were made available to businesses from this Friday.
Steven Mnuchin clarified that most of the requests were submitted to community banks, that is to say local, and that “the big banks grant large amounts but are not yet included in these figures”.
These loans granted to companies with 500 employees or fewer are one of the flagship measures of the $2.2 trillion recovery plan, adopted by Congress and then ratified by Donald Trump on March 27.
Companies that use it and do not lay off workers will see their debt canceled.
Steven Mnuchin promised Thursday evening that everything would be “ready to go” on Friday and that companies could have the funds “the same day.”
“It will start but that does not mean that everyone will be able to have their loan tomorrow,” he warned.
The first effects of the coronavirus crisis were felt in March on the American economy, which destroyed 701,000 jobs, pushing unemployment to 4.4%.
afp/rp
2024-02-29 21:53:34
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