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April 16, 2020, 10:51 a.m. EDT

SBA says it's out of money for loans to businesses hit by coronavirus pandemic

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By Robert Schroeder

The Small Business Administration said Thursday it is out of money for firms that are seeking loans from a key program to cover expenses during the coronavirus pandemic. "The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding," the agency said . "Similarly, we are unable to enroll new PPP lenders at this time," the SBA said. The statement comes as lawmakers on Capitol Hill are wrangling over replenishing the program.

Read the full story:
Lawmakers could fail today to replenish coronavirus-aid program for small businesses

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