Small business coronavirus loan program is ready, Mnuchin says as Chase raises concerns

U.S. Treasury Secretary Steven Mnuchin said on Friday he expects all large U.S. banks to be participating in a newly launched, $350 billion small business coronavirus rescue loan program by next week, with community banks issuing most of the loans so far......»»

Top White House economist Larry Kudlow said banks are “ready to go” on a small-business loan program as borrowers line up for help amid the coronavirus crisis......»»

U.S. Treasury Secretary Steven Mnuchin said he was pressing ahead with the Friday launch of a $349 billion coronavirus rescue loan program for small businesses despite confusion over last-minute final rules and lenders unprepared to approve applications......»»

Backers of the program have said it's one of the largest state-involved loan efforts in America to come out of the coronavirus pandemic......»»

Treasury Secretary Steven Mnuchin has given big companies until May 18, a newly set deadline, to return their Paycheck Protection Program loans or face criminal liability. Many borrowers are reffing those demands......»»

In a letter published Saturday, three Democratic senators criticized the Small Business Administration's handling of a coronavirus disaster loans program and asked the agency to reverse several earlier policy decisions......»»

The Justice Department has opened an investigation into companies that applied for loans under the Paycheck Protection Program, and businesses that provided misleading information could face jail sentences, experts say......»»

The U.S. Justice Department has opened an inves.....»»

JPMorgan Chase & Co said it has submitted roughly 220,000 applications worth $17.8 billion to the Small Business Administration's Paycheck Protection Program to help small businesses hurt by the coronavirus shutdown......»»

JPMorgan Chase & Co said on Wednesday that it had submitted roughly 220,000 applications worth $17.8 billion to the Small Business Administration's Paycheck Protection Program to help small businesses hurt by the coronavirus shutdown......»»

Associated Press As $310 billion in new funding replenishes the Paycheck Protection Program, small businesses can expect more oversight. Treasury Secretary Steven Mnuchin said Tuesday that loans over $2 million will undergo a "full review" be.....»»

A company in Georgia paid $6.5 million to resolve a Justice Department investigation — and, two weeks later, received a $10 million federally backed loan to help it survive the coronavirus crisis. .....»»

Mnuchin said the Paycheck Protection Program for small business and stimulus checks for Americans will help the economy reboun.....»»

Mounting debts and uncertain prospects for returning to normal operations leave many business owners vulnerable (NEW YORK) — The billions of dollars in coronavirus relief targeted at small business.....»»

How long does it take for a small business to get an emergency loan under the coronavirus relief package? USA TODAY answers these an.....»»

Congress and the White House recently are preparing to allocate another $250 billion in forgivable small business loans. An earlier $349 billion tranche of funding ran out less than two weeks before the program started......»»

San Antonio-based restaurant chain Taco Cabana received a $10 million loan under the U.S. Small Business Administration's Paycheck Protection Program as part of the CARES Act. On April 8, JPMorgan Chase Bank, N.A. granted the loan to Taco Cabana, a.....»»

President Donald Trump and Treasury Secretary Steven Mnuchin address how a coronavirus aid program for small businesses has been helping big public companies......»»

Good morning, friends. Here are the five things you need to know to start your day.  New federal funding Democratic leaders and Treasury Secretary Steven Mnuchin were close to striking a deal yesterday to replenish a small-business loan program.....»»

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......»»