The largest U.S. bank said it expects to process a total of US$29 billion in loans for around 239,000 customers as part of the government's Paycheck Protection Program (PPP). The average of these loans is for $123,000, according to a press release.
NEW YORK: JPMorgan Chase & Co said on Friday that the U.S. Small Business Administration gave it the green light to make US$15 billion in new loans to some 211,000 business customers hurt by the outbreak of the novel coronavirus.
The largest U.S. bank said it expects to process a total of $29 billion in loans for around 239,000 customers as part of the government's Paycheck Protection Program (PPP). The average of these loans is for $123,000, according to a press release.
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