World News

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

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.

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.

(Reporting by David Lawder; Editing by Chris Reese)