What small business owners need to know now that loan funds are gone [CNNMoney.com]
Wells Fargo & Company (WFC)
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Source: CNNMoney.com
Small business loan funds are tapped out: Here's what owners need to know now It took just under two weeks. That's how quickly the nearly $350 billion allocated for forgivable small business loans in the Paycheck Protection Program was depleted. Participating lenders had predicted the swift exhaustion of funds because they already had tens of thousands of small businesses waiting to apply once the first-come first-served program launched on April 3. Here's what small business owners need to know now: Congress will likely add more money to the PPP loan fund Read More They are still at loggerheads , but lawmakers are likely to add money to the PPP loan kitty. How much? Talks have centered on another $250 billion. But it's not clear when that money would be added. And lenders and small business advocates say it's still not enough. Roughly $1 trillion all-in may be what's needed for the loan program to satisfy the outsized need in the wake of the coronavi
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