Ivanka Trump Given White House Responsibility Of Supporting Small Businesses

Ivanka Trump, a senior adviser to her father at the White House, has begun pushing for small business financial relief amid the coronavirus pandemic.

The rollout of the $349 billion Paycheck Protection Program, one component of the trillion-dollar stimulus package passed by Congress, initially faltered as banks requested more information and limited applicants to existing customers. The White House this week has requested an additional $251 billion in funds it hopes to have approved by the end of the week.

“America’s small businesses are the backbone of our economy” she tweeted Wednesday.

Trump participated in a phone conference with her father and banking executives on Tuesday.

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“When we began making phone calls to each of you — some of the largest lenders in the country, bankers, credit card companies, we asked you to provide additional relief, private sector-driven relief to our incredible small businesses,” Ivanka Trump said. “And you’ve answered that call,” she said, thanking them for “doing your part.”

Many banks have provided various relief measures such as payment deferrals, loan modifications and debt relief, but small businesses seeking loans may still have to wait several weeks to receive any funds, depending on their bank.