Category Archives: politics

U.S. Doubles Small-Business Loans’ Rate to 1% After Lenders Balk

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The Small Business Administration has bumped up to 1% the interest rate lenders may charge small businesses under a $350 billion U.S. relief program after lenders complained that the previous approved rate of 0.5% was below even their own cost of funds. U.S. Treasury Secretary Steven Mnuchin and Small Business Administration Administrator Jovita Carranza released additional guidelines for the […]