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$349B Paycheck Protection Program for Small Businesses Exhausted

HeadlineApr 17, 2020

The Small Business Administration said Thursday it has exhausted a $349 billion emergency loan fund. The Paycheck Protection Program will no longer accept new applications unless Congress approves additional funding. Treasury Secretary Steven Mnuchin is seeking an additional $250 billion for the program; Democrats want to expand any new relief measure to include $100 billion for healthcare providers and $150 billion for state, local and tribal governments.

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