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Mnuchin hopes to unveil ‘Main Street’ lending facility this week

Mnuchin also reassured small businesses, which are seeking billions of dollars in loans from another federal lending facility, that the government “will not run out of money” for loan guarantees through the Small Business Administration.

The loans have been in such high demand that the Trump administration announced Tuesday that it was seeking another $250 billion to fund the effort, on top of the $349 billion already included in the last coronavirus response package. The Senate could move this week to approve the new relief.

Mnuchin said he hoped Congress would approve that funding Thursday or Friday.

“If you don’t get a loan this week, you’ll get a loan next week or the following week,” he said. “The money will be there.”

Source: politico.com
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