Small Business Loan Program Makes Bumpy Start
Some of the nation’s biggest lenders say they weren’t yet able to process loan applications under the federal program, frustrating business owners struggling to stay afloat.
Trump just criticized the premise of a WSJ question about early bumps in the small business lending program. Here's the reporting that backs the question up
"Based on [SBA] figures, the average loan approved was ~$380,000. At that rate, the $350B allotted by Congress would run out after 1 million applications are approved. There are 30 million small businesses in the U.S."
Claudia Sahm GET MONEY OUT!
exhibit #2: "About one-fourth of small businesses have already closed ... another 40% said it is likely they will have to close at least temporarily within the next two weeks."