'What's happened in the first few days is you have a stampede going on at banks and other lenders with small businesses afraid to get shut out before the program runs out of money, so we want to take away some of that anxiety.'
"No one's ever done one of these before," Rubio said."There’s not a banker in America that’s ever given out a PPP loan until Friday. There isn’t anybody at the SBA that's ever authorized a PPP loan until Friday. This is not the same as a pre-existing system that isn’t working well. This is completely brand new and built-in six days."
The former presidential candidate and Trump confidant has not been shy in recent days about criticizing aspects of the program. He's called out lenders whom he thought were taking advantage of the crisis and tweeted about the PPP'sin which banks have struggled to handle a massive surge of applications for forgivable loans aimed at helping small businesses keep workers on staff and pay other bills.
Rubio's remarks about the program are part of a question-and-answer session with USA TODAY that's been lightly edited for clarity:Why support another $200-$250 billion for the PPP when about $275 billion remains untapped?Whatever’s not spent will revert back to Treasury. What I don’t want us to continue to do is have to come back for more.
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