Small businesses that missed out on paycheck protection are waiting

House Speaker Nancy Pelosi said small businesses impacted by coronavirus will have access to more funds through the Paycheck Protection Program “soon” after Senate Democrats rejected a GOP attempt to replenish the program.

“We want all of them to get what they’re entitled to under the law. … Some of these small businesses have other requests in terms of the additional loan program, in addition to the grant program,” Pelosi said on “Fox News Sunday.” “And that’s part of our request, as well.”

“They will have more money as soon as we come to agreement, which will be soon,” she said. “And I think people will be very pleased, because these small businesses must thrive in a community where their health is essential to them opening up, and they have to open up in order to thrive.”

Although Republicans and Democrats agree they need to replenish the program, a $349 billion fund approved last month as part of the CARES Act, they have remained at an impasse over how to do so.

Treasury Secretary Steven Mnuchin asked Congress to allocate $250 billion more for the program. But a GOP attempt to approve it was rejected by Senate Democrats, who maintained that additional cash should include emergency funding for hospitals and states, as well as some changes to the small business aid program.

Also on “Fox News Sunday,” Vice President Mike Pence said Democrats and Republicans are “very close” to a resolution.

“We are urging Democrats in the House and the Senate to step forward,” Pence said. “The negotiations are going on. We’re very close.”

Pelosi addressed the anti-lockdown movements that have sprung up in more than a dozen states on “Fox News Sunday.”

“What we have to do is shelter in place. … But, you know, people will do what they do. But the fact is, we’re all impatient. We all want out. But what they’re doing is really unfortunate,” Pelosi said.

Author: Evie Fordham

Source: Fox Business: Deal on more coronavirus small business loan money coming ‘soon,’ Pence, Pelosi say

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