$175 billion in small business loans given out in second round of the Paycheck Protection Program

The Trump administration announced Sunday that 2.2 million small business loans worth $175 billion have been made in the  second round of the Paycheck Protection Program.

Treasury Secretary Steve Mnuchin and Small Business Administration Administrator Jovita Carranza said in a joint statement that the average size of a loan made under the second iteration of the program, which began Monday, was $79,000.