Lawmakers may try again to increase funding for small business loans. The first attempt was blocked in the Senate last week. Over the weekend, Senate Majority Leader Mitch McConnell and House Minority Leader Kevin McCarthy said they’d continue to try and add $250 billion to the Paycheck Protection Program. The current program has $350 billion and there’s been a strong demand for the loans. South Dakota Senator John Thune said lawmakers don’t want the program to run out of money. “It’s the kind of program that does exactly what we intended it to do. There have been some hiccups and glitches with lenders, but the demand on the program has been substantial.” Thune clarified farmers are eligible for PPP loans. “I think there was an assumption that farmers wouldn’t be eligible, but we are asking them to go check with their lender. There are other things we’re trying to do in addition to this program to help farmers, but we think this tool should be available for them.”
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