The S P a and Treasury committed to get this program up and running tomorrow.

And when Jovita says People working around the clock, they literally we had both teams working till four o'clock in the morning and start working again.

Today we've heard feedback from lenders, community banks, regional banks and we spent the last 24 hours making this system even easier.

So this will be up and running tomorrow.

I encourage all small businesses that have 500 or fewer people.

Please contact your lenders any f d I C institution will be able to do this.

Any credit union Existing SP A Lenders in Fintech lenders uh, you get the money, you'll get it the same day.

You use this to pay your workers.

Please bring your workers back to work.

If you've let them go, you have eight weeks plus overhead.

Thistle's a very important program.

I'm pleased to announce way are going to raise the interest rate on these loans, and again the interest rate is paid for his part of the program.

The bar doesn't have to pay this toe 1%.

We had announced it was going to be 50 basis points.

We've heard from some smaller community banks that their deposit costs even though the government's borrowing at three or four basis points, this is on average and 90 day loan.

To make this attractive for community banks, we've agreed Thio to raise the interest rate again.

I encourage everybody take out the paycheck protection program.

I'm also pleased to report the economic impact payments.

I previously said this would take us three weeks.

I'm pleased to report that within two weeks the first payments will be direct deposit into taxpayers account.

And as the president said last night, the president authorized me to say that anybody who has Social Security recipients won't need to file a new tax return, and we'll have that if we don't have your direct deposit, information will be putting up a Web portal so that you can put that up.

It is a very large priority.

The president has made clear we want to get this money quickly into your hands.

I'm also pleased to report that we continue to work closely with the Federal Reserve.

We're in the process of designing a new facility that we call the main street lending facility.

We're also looking at facilities for state governments as well, and I'm also pleased to report the employee retention credit.

It's up and running the 1st $10,000 of wages.

You get a 50% credit.

That's $5000 per person for everyone who's kept someone, you can immediately get that money.

You can deduct it from what you owe the I Rs immediately.

If you don't know us money, you'll get a refundable tax credit, so that is up and running.

I'm also pleased to report we have the program up and running.

We're taking applications from the airlines from the cargo companies and from national security companies.

Hi, everyone.

George Stephanopoulos here.

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