US approves US$168 billion of small business loans under coronavirus plan: Kudlow

US approves US$168 billion of small business loans under coronavirus plan: Kudlow

FILE PHOTO: Larry Kudlow participates in coronavirus economic "relief update" virtual eve
FILE PHOTO: Larry Kudlow participates in coronavirus economic "relief update" virtual event at the White House in Washington

WASHINGTON: The United States has approved 661,000 loans to small businesses totaling US$168 billion under a program to address the fallout from the novel coronavirus epidemic, White House economic adviser Larry Kudlow said on Friday.

"We're now at 661,000 loans approved ... US$168 billion have been approved by this government," Kudlow said in an interview with Fox Business Network.

A US$2.3 trillion economic stimulus enacted last month allocated US$349 billion to loans to small businesses hurt by the crisis that can be turned into grants if they meet certain conditions.

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Source: Reuters

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