WASHINGTON (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)