UPDATE 2-U.S. loan program hits $350 bln cap leaving thousands of small businesses adrift [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
U.S. loan program hits $350 billion cap leaving thousands of small businesses adrift - Reuters 3 Min Read WASHINGTON (Reuters) - A $350 billion emergency U.S. loan program 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 on Thursday. That has left thousands of small business across the country, which have been forced to shut down in order to stem the outbreak, without badly needed funds to keep them afloat. “The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding,” the SBA said on its website, adding that as a result it could not enroll new lenders in the program for the time being. The SBA said in an email that nearly 5,000 banks had made roughly 1.6 million loans under the scheme, which was part of a $2.3 trillion congressional stimulus package passed last month to combat the economic damage caused
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JPM
Earnings
- 10/14/25 - Beat
JPM
Sec Filings
- 12/5/25 - Form 424B2
- 12/5/25 - Form 424B2
- 12/5/25 - Form 424B2
- JPM's page on the SEC website