Small business loan program runs out of money, no longer accepting applications

on Thursday morning, as billions of dollars in additional coronavirus aid remain stuck in congressional limbo.

Last week, Treasury Secretary Steven Mnuchin asked Congress to allocate $250 billion more for the program. But a GOP attempt to approve it was rejected by Senate Democrats, who maintained that additional cash should include emergency funding for hospitals and states, as well as some changes to the small business aid program. Republican aides have said conservatives will reject any spending beyond the PPP.

"The President and his Administration will continue to prioritize relief for all those affected by this unprecedented crisis, which is why Congressional Democrats must stop playing politics and blocking additional emergency relief for our Nation's small businesses," White House spokesperson Judd Deere said in a statement.

The program, which launched less than two weeks ago, provides loans at ultra-low interest rates to businesses with fewer than 500 employees to incentivize them to keep staff on payroll, or rehire workers who have already been laid off. If at least 75 percent of the money goes to keep employees on the payroll, the federal government will forgive the loans.

Why are Republicans giving handouts to businesses and people? We are the pull yourself up by the bootstraps people. If you can't make it, you didn't plan well enough in life.

Can you imagine this is putting my 3 generation family business out of business takeourcountryback

It’s hurting the Dems

BretBaier 'WE gave you a helluva lot of money and The Democrats won't give you anymore! We Would! But remember, IT IS THE DEMOCRATS. Nancy Pelosi over there in San Francisco just letting the city decay into 'dread' while showing off her $24K refrigerator!

BretBaier AND Dems turn down a simple one page bill to add more $$$? Please people , vote ALL RED in November.

Welp, sounds like we fucked up.

Why is it so hard to just approve additional funds for this program? Stop holding America hostage for your unrelated Democrats agenda.

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