Romney: We’re Working on Package to Provide Small Business Loans That ‘Will Surely Be Forgiven’

On Thursday’s “Hugh Hewitt Show,” Sen. Mitt Romney (R-UT) discussed the coronavirus relief bill the Senate is working on and stated that the package is designed to provide loans to small businesses, that “will surely be forgiven” if those businesses maintain employment, and there is a package to help larger businesses.

Romney said, “[T]his rescue package that we’re working on in the Senate is designed to provide funding to any business of 500 employees and smaller, all right? So, people can go to their local bank. It’ll be an SBA-guaranteed loan. The loan will surely be forgiven down the road, if people maintain their employment.”

He added that “one of the packages is designed to help larger enterprises, and that’s the one that I mentioned with regards to airlines. It actually will have a facility a great deal larger than just what’s needed for airlines. It will be administered by the Treasury Department. And it’ll be for those enterprises that are larger, that are in difficult circumstances. How many will qualify is a real question. But those enterprises that are really key to the economy, key to national security, key to our infrastructure, will surely be high on the list.”

Follow Ian Hanchett on Twitter @IanHanchett

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