Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

SBA loan program tapped out, Minnesota companies received $7.6 billion


April 17, 2020

Treasury Secretary Steven Mnuchin speaks about the coronavirus in the James Brady Press Briefing Room at the White House, Monday, April 13, 2020, in Washington. (AP Photo/Alex Brandon) ORG XMIT: MERd1df407e74337bade4fbe45cb5a91

It's all gone.

Less than two weeks after the federal government launched a $349 billion emergency loan program to help small businesses survive the coronavirus-induced recession, the funds have been exhausted, the U.S. Small Business Administration confirmed Thursday.


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