April 27, 2020 / 6:26 PM / a month ago

Extra $2 billion available for U.S. coronavirus relief loans: SBA

WASHINGTON (Reuters) - The United States will be able to lend an additional $2 billion to small businesses through its Paycheck Protection Program, after a number of borrowers in the first round of funding for the coronavirus relief declined or returned their loans, the top official on the program said on Monday.

“More than $2 billion of the first round of Paycheck Protection Program funding was either declined or returned and will be made available during the current application period,” Small Business Administration Administrator Jovita Carranza wrote on Twitter on the same day that the second round of funding kicked off.

Reporting by Lisa Lambert and Susan Heavey, Editing by Franklin Paul

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