Mnuchin Seeks Further $250 Billion to Bolster Small Business Lending Program

Mnuchin Seeks Further $250 Billion to Bolster Small Business Lending Program

© Reuters. © Reuters.

By Yasin Ebrahim – U.S. Treasury Secretary Steven Mnuchin said he held talks with Congress to secure an additional $250 billion to bolster the $349 billion Paycheck Protection Program that was launched last week to deliver fiscal support for small businesses in the wake of the coronavirus crisis.

The Paycheck Protection Program was formed as part of of the historic $2 trillion coronavirus rescue bill that was rolled out last month. But calls for Congress to beef up the small business relief program have grown louder in recent days amid a surge in demand from small businesses in need of financial assistance.

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