• Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcasts
ABOUT
Advertise in GAT
Contact us
Monday, March 20, 2023
Georgia Asian Times
International Insurance of Georgia
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcasts
  • Login
No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcasts
No Result
View All Result
Georgia Asian Times
No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcasts
Home Business

U.S. small-business rescue loan program hits $350 billion cap, says government

Georgia Asian Times by Georgia Asian Times
April 16, 2020
in Business, Headline
Share on FacebookShare on Twitter

Washington DC, April 16, 2020 – A $350 billion emergency U.S. loan program designed to help small businesses keep workers on their payrolls amid the novel coronavirus disruption has run out of funds, the U.S. Small Business Administration said in an email on Thursday.

“The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding,” the SBA also said on its website on Thursday, adding that as a result it could not enroll new lenders in the program for the time-being.

The Trump administration has been pressing Congress to approve further funding for the program to help small businesses that have been shut down by measures aimed at stemming the spread of the virus. But lawmakers have yet to agree on legislation, as Democrats push to include other provisions in any bill, including requests from small banks to allocate a portion of the funds specifically to them.

Washington-based banking groups this week have written to Congress multiple times calling for lawmakers to end the deadlock, and have asked that lenders be able to continue processing applications so they are ready to disburse the funds once they are approved by Congress.

AD: High Museum of Atlanta

“Small businesses are continuing to submit loan applications and existing applications are still pending SBA approval,” said Richard Hunt, president and chief executive of the Consumer Bankers Association, in a statement on Thursday.

“The millions of men and women who work at America’s small businesses and their families are battling a health crisis while also facing an economic crisis unless Congress authorizes additional funds for this program.” – Reuters

Previous Post

Federal agencies are doing little about the rise in anti-Asian hate crimes

Next Post

Trump gives governors 3-phase plan to reopen economy

Georgia Asian Times

Georgia Asian Times

Related Posts

Biden insists banking system is safe after 2 bank collapses
Business

Silicon Valley Bank’s demise disrupts the disruptors in tech

March 15, 2023
Honda changing course, will build its own electric vehicles
Business

Honda recalling 500,000 vehicles to fix seat belt problem

March 15, 2023
Biden insists banking system is safe after 2 bank collapses
Business

Biden insists banking system is safe after 2 bank collapses

March 13, 2023
Business

Yellen says no federal bailout for Silicon Valley Bank

March 12, 2023
US employers shrug off omicron, add 467,000 jobs in January
Business

US adds a robust 311,000 jobs despite Fed’s rate hikes

March 10, 2023
Biden hosts ASEAN as he looks to show Pacific commitment
Business

Biden budget seeks big deficit cuts in challenge to GOP

March 9, 2023
Next Post

Trump gives governors 3-phase plan to reopen economy

Signup Free E-Newsletter

Upcoming Events

Apr 7
8:00 am - 3:30 pm

Symposium on Asia-USA Partnership Opportunities (SAUPO) 2023

May 6
9:00 am - 4:00 pm

GAT AAPI Summit 2023

View Calendar
Logo

 

CONTACT US

Follow Us

MOST INFLUENTIAL

GAT 25 Most Influential Asian Americans Gala celebrates Asian voice

GAT 25 Most Influential Asian Americans Gala celebrates Asian voice

July 18, 2022

Video highlights of GAT 25 Most Influential Asian Americans in Georgia

July 17, 2022

2022 GAT 25 Most Influential Asian Americans in Georgia-Awards Gala

July 17, 2022

LINKS OF INTEREST

ATL Asian Film Festival

     

  • Contact Us
  • Advertise in GAT
  • About
  • Privacy Policy
  • Terms of Use

© 2023 Georgia Asian Times - Empowered by 8SOL. Managed by Arckopolis.

No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • Events
  • Podcasts

© 2023 Georgia Asian Times - Empowered by 8SOL. Managed by Arckopolis.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

    Register for FREE to read the rest of this article, or log in to your account.

      Or Login Here :

      Login

      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?