Trump says $70 billion in coronavirus rescue loans authorized. But where’s the cash?
WASHINGTON (Reuters) – Roughly $70 billion of a $350 billion pot of loans to cover the payrolls of ailing small businesses have been originated by U.S. lenders in recent days, President Donald Trump said on Tuesday, adding that that money was “essentially loaned.”
The downtown district of Washington, looking east to the U.S. Capitol, remains largely empty to try to limit the spread of COVID-19 during the coronavirus disease pandemic in Washington, U.S. April 7, 2020. REUTERS/Jonathan Ernst
In fact, no one, including the administration, seems to know how much of that money has made it…