![]() I am on the phone constantly with Treasury, the SBA, and bankers across the country and all across Florida to make sure it gets better each day we move forward.” The good news is that every problem we saw yesterday can be fixed. “When you launch something this unprecedented and far-reaching just seven days after it becomes law there will inevitably be problems. “The speed with which the administration stood up this program is an incredible feat, but it’s also important for a little patience and a little honesty,” Chairman Rubio continued. ![]() Their actions yesterday saved hundreds of thousands of jobs.” ![]() As I argued when I first proposed to use the SBA’s guarantee programs to get assistance to small businesses quickly, these community banks were ready to go on day one. Nearly all of the lending completed yesterday came from existing 7(a) small business lenders like community banks. “Yesterday, just days after becoming law, small businesses across the country received billions of dollars in Paycheck Protection Program loans. “Just last week, Congress passed and President Trump signed the Paycheck Program into law,” Chairman Rubio said. Small Business Administration (SBA), 17,503 loans valued at more than $5.4 billion were approved as of 7:30 PM EDT Friday. According to Jovita Carranza, Administrator of the U.S. Senator Marco Rubio (R-FL), Chairman of the Senate Committee on Small Business and Entrepreneurship, released an update on the Paycheck Protection Program, which went live Friday morning.
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