Paycheck Protection Program Interim Report Card — A+++

Secretary of the Treasury Steven Mnuchin said he would get money to eligible persons as soon as possible.

“My name is Secretary of the Treasury Steven Mnuchin and I have money for YOU! Come on down, amigos. Get some. Get yours. Let’s get busy.”

But, of course, he’s the “government” and — yawn — who believes the GOVERNMENT?

First day report:

Loans made — 1,926 (as of today at 11:00 AM EST)

Funds disbursed — $756,985,761

Participating lenders — 245 banks

This element of the rescue is dealing with Main Street not Wall Street and your Big Red Car has to say: “Well played, Federal Government. Well played, Secretary of the Treasury Steven Mnuchin. Well played indeed!”

If you need a loan, go see your bank or a Small Business Admin approved lender. Do this now.

You can get up to 2.5X your payroll up to $10,000,000. 

You can use the money for payroll, rent, mortgages, utilities, insurance, and other operating expenses.

If 75% of the money is spent to keep your work force employed — THE LOAN IS FORGIVEN.

The money is literally at the bank. GO GET YOURS, dear readers.

Thanks, President Trump. Thanks, Secretary Mnuchin.

Observation — meanwhile over at the House of Representatives, Speaker Pelosi and the inimitable Committee Chairman Adam Schiff have announced they are going to INVESTIGATE the Trump’s management of the COVID19 challenge. I’m sure that is going to put food on your table?

Drop your Secretary of the Treasury a Tweet at @stevenmnuchin1 — tell him you appreciate the assistance. car


UPDATE: As of 5:00 PM EST, total funds committed: $3,500,000,000