Mnuchin: Fed To Make $4 Trillion In Business Loans, Send $3,000 Checks To Family Of Four

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The US, in conjunction with the Federal Reserve, will lend up to $4 trillion to businesses affected by the coronavirus pandemic, according to Treasury Secretary Steven Mnuchin.

“Working with the Federal Reserve — we’ll have up to $4 trillion of liquidity that we can use to support the economy,” he told Fox News on Sunday.

“Those are broad-based lending programs. … We can leverage our equity working with the Federal Reserve,” he added.

“The president is very determined to protect American workers. The first part are what I call small business retention loans. If you’re a small business, you’ll get two weeks of cash flow to pay your workers. You’ll also get some overhead, and if you do that, your loans will be forgiven.” -Steven Mnuchin

Mnuchin said the plan should help small and large businesses “get through the next 90 to 120 days.” – READ MORE

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