Trump says $70 bln in coronavirus rescue loans authorized. But where's the cash? [Reuters (UK)]
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Source: Reuters
Trump says $70 billion in coronavirus rescue loans authorized. But where's the cash? - Reuters 5 Min Read WASHINGTON (Reuters) - Roughly $70 billion of a $350 billion pot of loans to cover the payrolls of ailing small businesses have been originated by U.S. lenders in recent days, President Donald Trump said on Tuesday, adding that that money was “essentially loaned.” In fact, no one, including the administration, seems to know how much of that money has made it into the hands of small businesses, many of which say they have yet to see a penny. “They’re saying it’s going great but on the street no one’s received any funds yet,” said Sachin Mahajan, who shut down his restaurant, Karma Modern Indian, in the heart of Washington, D.C., on March 16 after business nosedived. “All the business owners I have spoken with, none of them have seen anything come through yet,” said Mahajan, who submitted his payroll application on Monday, after his bank asked him to resubmit online his Friday paper
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- 12/20/24 - Form 424B2
- 12/20/24 - Form 424B2
- 12/20/24 - Form 424B2
- WFC's page on the SEC website