|07 April, 2020

U.S. Treasury chief says 3,000 lenders making small business rescue loans

U.S. Treasury Secretary Steven Mnuchin said on Tuesday that over 3,000 lenders were participating in a new $349bln small business coronavirus loan program

WASHINGTON- U.S. Treasury Secretary Steven Mnuchin said on Tuesday that over 3,000 lenders were participating in a new $349 billion small business coronavirus loan program and the Federal Reserve and Treasury were working to set up facilities to support "main street" and municipal borrowers.

"If you can’t get the loan today or tomorrow, don’t worry, there will be money," Mnuchin told Fox Business Network of the small business loans. "If we run out of money we’ll go back for more. There’s extraordinary demand. This is the third day that this program is up and running."

(Reporting by David Lawder and Doina Chiacu Editing by Chizu Nomiyama) ((David.Lawder@tr.com; +1 202 354 5854; Reuters Messaging: david.lawder.thomsonreuters.com@reuters.net))

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