The federal loans are forgiven to business recipients if they retain their workers.
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Senate Minority Leader Chuck Schumer, D-N.Y., said in a television interview Sunday he hoped that an agreement would be reached by Sunday night or Monday morning.
One version of a possible agreement would see the program receive up to $310 billion in new money for businesses, national reports said. That may include $60 billion for businesses in rural areas or owned by minorities.
Also said to be included would be $75 billion for hospitals and $25 billion to expand testing for the coronavirus nationwide, according to Treasury Secretary Steven Mnuchin.
Another $60 billion could be set aside for a separate Economic Injury Disaster Loan program.
The program has been a frustration for banks and business applicants nationwide, with reports of problems with the Small Business Administration’s online portal and small businesses saying they were left waiting in line to apply. Banks have also been prioritizing applications for customers with whom they already have a loanr relationship.
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