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.

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