U.S. small banks have processed more than 700 small business relief loans for $2.5 mln -Mnuchin

WASHINGTON, April 3 (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Friday that community banks have processed hundreds of 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.

“The system is up and running. Community banks have already processed over 700 loans processed for $2,500,000. Great work!!” Mnuchin wrote on Twitter. “Large banks expected to go live soon this morning as well.” (Reporting by Lisa Lambert Editing by Chizu Nomiyama)

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