$150-Billion In Small Business PPP Funding Untapped
The Small Business Administration has close to 150-billion dollars to lend out but small firms aren't applying for it.
The money is part of the 660-billion dollar-Paycheck Protection Program, for small businesses to borrow money to pay their employees during the coronavirus shutdown. The firms don't have to pay back the loans if they hire back 75-percent of their workers.
Lending has been negative since the middle of this month, with few applications and some borrowers returning the money.