Washington, DC (ABC) - The Trump Administration admits there were glitches in the rollout of a new program to help small businesses.
President Trump's top economic advisor, Larry Kudlow, told reporters today at the White House that $50 billion in loans have been approved as part of the federal government's small business loan program.
Kudlow said that includes 178,000- loans from 3,000 lenders, " That's just what we had hoped to keep people afloat."
Kudlow did acknowledge that the loan program quote "got off to a bad start" when it launched last Friday.
Kudlow predicted the impacts on the economy will only be temporary, " Try everybody to have a little optimism, a little hope, a little prayer and we'll try to get through the weeks ahead. We're putting as much cash in as we possibly can."