U.S. small banks have processed more than 700 small business relief loans for $2.5 mln -Mnuchin

Credit: REUTERS/Yuri Gripas

WASHINGTON, April 3 (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Friday that community banks have processed hundreds of small business loans aimed at shoring up the economy amid the global coronavirus pandemic, and sounded a positive note about a new program that lenders have greeted with skepticism.

"The system is up and running. Community banks have already processed over 700 loans processed for $2,500,000. Great work!!" Mnuchin wrote on Twitter. "Large banks expected to go live soon this morning as well."

(Reporting by Lisa Lambert Editing by Chizu Nomiyama)

((lisa.lambert@thomsonreuters.com; +1 202 898 8328; Reuters Messaging: lisa.lambert.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.