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Large U.S. banks to take small business loan applications next week: Mnuchin

Published 04/03/2020, 05:41 PM
Updated 04/03/2020, 11:11 PM
© Reuters. FILE PHOTO: FILE PHOTO-U.S. Secretary of the Treasury Mnuchin walks to the meeting for a coronavirus relief package in Washington

WASHINGTON (Reuters) - 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.

© Reuters. FILE PHOTO: FILE PHOTO-U.S. Secretary of the Treasury Mnuchin walks to the meeting for a coronavirus relief package in Washington

Mnuchin told Fox Business Network in an interview there was "plenty of money left" in the program and businesses facing issues with applications had plenty of time to do so.

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