The US government doubled the interest rate on coronavirus bailout loans for small businesses after banks complained they would lose money

8:43am PDT - April 3rd, 2020    paycheck protection program - Business Insider

The US government began offering $350 billion in small business loans via private banks on Friday. The interest rate was doubled on the aid after smaller lenders complained the original 0.5% rate would create losses. Larger banks like JPMorgan Chase had warne…