The New York Times (4/7, Cochrane, Tankersley) reports, “Congress could move as early as this week to approve another $250 billion in aid for small businesses, after the Trump administration asked for additional funds to support an overwhelming demand for help.” Treasury Secretary Steven Mnuchin “reached out to top Democrats and Republicans on Tuesday to request the additional funds, which would go to a new program to help small businesses secure loans from banks.”
The Washington Post (4/7, A1, Werner, Stein, Merle) reports Mnuchin “asked congressional leaders to swiftly commit an additional $250 billion to replenish the new $349 billion small-business coronavirus program,” known as the Paycheck Protection Program, which is “being overwhelmed by surging demand.” According to the article, “The surge in demand for these loans overwhelmed the systems at many banks,” but “the White House has made numerous adjustments to the program in the past week to expand it for applicants and make it more attractive to banks originating the taxpayer-backed loans.” Senate Majority Leader Mitch McConnell (R-KY) “said he hoped to pass the cash infusion through the Senate on Thursday.”
The ADA News (4/6, Garvin) reported previously that “dentists can apply for both Economic Injury Disaster Loans and Paycheck Protection Program 7(a) loans, the Small Business Administration told the American Dental Association on April 6.”