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Home Business News

Mnuchin Supports Changes to Small-Business Aid Program

by The Future Coin
May 11, 2020
in Business News
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Mnuchin Supports Changes to Small-Business Aid Program
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WASHINGTON—Treasury Secretary Steven Mnuchin said Monday that the government will look to make fixes to help restaurants and others participate in the $660 billion small-business aid program, a move that could help ease some of the criticism surrounding the program.

The Paycheck Protection Program’s forgiveness requirements mandate borrowers spend 75% of the loan on worker salaries, and for the forgivable amount to be spent over an eight-week period. That has drawn objections from many business owners who say they need more…

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