Small Business Relief Loan Program Runs Out of Cash

Small Business Relief Loan Program Runs Out of Cash
A man wears a mask as he rides past a closed Modell's in New York City on April 15, 2020. Reuters/Bryan R Smith
Tom Ozimek
Updated:

The government’s small business rescue loan program, which is part of the $2.2 trillion COVID-19 relief package, has hit its $349 billion limit and is now basically out of money.

The loans, which are forgivable if businesses meet certain conditions, including not laying people off, are administered by the Small Business Administration (SBA).

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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