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Small businesses see $875 million in relief loans so far

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U.S. Treasury Secretary Steven Mnuchin said that community banks have processed more than $875 million in 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.

″#PPPloan now over $875,000,000 processed almost all from community banks!” Mnuchin wrote on Twitter. “Big banks taking applications and will submitting them shortly.”

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