/Capitol Report: Kudlow calls banks ‘ready to go’ for small-business lending program

Capitol Report: Kudlow calls banks ‘ready to go’ for small-business lending program


Bloomberg News/Landov

National Economic Council Director Larry Kudlow

Top White House economist Larry Kudlow said banks are “ready to go” on a small-business loan program as borrowers line up for help amid the coronavirus crisis.

Trump administration officials have said they want to get aid in the hands of small businesses within days of Friday’s planned rollout.

As MarketWatch has reported, however, efforts to quickly get working capital out to small businesses are being complicated by what some lenders have criticized as a chaotic process.

Appearing Friday on Bloomberg TV after a worse-than-expected March jobs report, Kudlow said he didn’t see barriers or roadblocks to the lending program.

Read: U.S. officially lost 701,000 jobs in March, but in reality millions vanished.

U.S. stocks

DJIA, -1.07%

  opened modestly lower after the greater-than-expected job losses.

And see: ‘Already this is a nightmare’ — economists react to U.S. March jobs report.

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