Small community banks have processed hundreds of small-business loans today intended to address the economic calamity caused by the coronavirus pandemic.  Some of the bigger banks  in the country say the are not ready to process applications.

A senior Treasury official told FOX business that more than 6,000 loans worth more than $2 billion had been processed by 2:20 p.m. ET on Friday, dominated by community banks.

The $349 billion Payroll Protection Program, a part of the $2 trillion stimulus package package that President Trump signed last week and designed to get cash in the hands of struggling small businesses and incentivize them to keep staff on payroll, and re-hire already laid off workers.

President Trump just commented live on FOX NEWS on the success of this program and how quickly the banks had processed loans today to get this program and our economy headed in the direction.
For additional visit our friends at FOX NEWS.

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