Wells Fargo, Other Lenders Miss Debut of Rescue for Small Firms
- Too many small businesses are being shut out, NFIB group says
- More than 17,500 loans valued at $5.4 billion processed Friday
Photographer: Craig Warga/Bloomberg
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Small businesses had mixed results Friday trying to apply for loans on the first day of an unprecedented and quickly arranged federal relief program, with some banks including Wells Fargo & Co. saying they weren’t ready as lenders across the country grappled with a lack of detailed guidelines from the government.