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3 takeaways from the small-business loan program

FILE - In this April 2, 2020 file photo, a notice of closure is posted at The Great Frame Up in Grosse Pointe Woods, Mich.  The government is closing in on the $349 billion lending limit on its Paycheck Protection Program that is sending relief money to the nation’s small businesses. The Small Business Administration says that it has approved more than 1.6 million loans worth more than $339 billion. The program will likely reach its ceiling Thursday, April 16. (AP Photo/Paul Sancya, File)

Small businesses have, like much of the U.S. economy, been walloped by the coronavirus. In response, Congress created the Paycheck Protection Program to infuse small businesses — which typically have less access to quick cash and credit — with hundreds of billions of dollars in emergency loans so they can keep workers employed.

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