Coronavirus: American SMEs have already requested 4.3 billion aid

Wells Fargo Bank said it was working as quickly as possible to put in place the federal aid package. REUTERS / Jeenah Moon

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More than $ 4 billion in loans have already been requested by American small and medium-sized businesses. This money is part of the 2,000 billion mega-plan intended to support the economy in the face of the coronavirus pandemic.

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The loans, which can total up to $ 350 billion , should enable small and medium-sized businesses to pay the salaries of their employees, among other things. The companies which will use this device and which will refrain from dismissing will see their debt canceled.

If this money turns out to be insufficient, Steven Mnuchin, the US secretary of the Treasury, has promised to ask Congress for more cash.

►Also read: Coronavirus: America's historic plan to help the economy, and what next?

Most loan applications have been made to local banks. The largest American establishments have highlighted the administrative difficulties that would have prevented them from implementing the federal system. Thus, JPMorganChase indicated on its site that it was not able to start immediately to collect the requests. Wells Fargo, for his part, claimed to work as quickly as possible to be ready.

These funds are supposed to counter the economic crisis which follows the Covid-19 crisis. In March, the unemployment rate rose to 4.4% in the United States, the highest level in more than a decade.

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