WASHINGTON, Apr 4 — Small and medium-size US businesses have applied for more than $5.4 billion in government-backed loans as a key pillar of the country’s coronavirus relief plan took effect, the Trump administration said. Jovita Carranza, who heads the federal Small Business...
Treasury Secretary Steven Mnuchin addresses the daily coronavirus response briefing as US President Donald Trump listens at the White House in Washington, US, April 2, 2020. — Reuters
Friday was the first day the companies were able to apply for the money, intended in large part to help them pay employees’ salaries. The funds are intended to help hundreds of thousands of restaurants, hair salons and other small and medium businesses pay wages and rent for eight weeks, allowing them to keep staff on the payroll during virus-enforced closures.
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