2.2 million small business loans have been made in the second round of the Paycheck Protection Program

Trump Admin
Treasury Secretary Steve Mnuchin, left, listens as President Donald Trump speaks during an expanded bilateral meeting with the Emir of Kuwait Sheikh Sabah Al Ahmad Al Sabah in the Cabinet Room of the White House, Wednesday, Sept. 5, 2018, in Washington. (AP Photo/Evan Vucci)

WASHINGTON, D.C. (CNN) – The Trump Administration announced today that 2.2 million small business loans worth 175 billion dollars have been made in the second round of the Paycheck Protection Program.

Treasury secretary Steve Mnuchin says, the average size of a loan made was 79 thousand dollars.

The administration said that since the launch of the PPP, 3.8 million loans totaling more than 500 billion dollars have been made.

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