A new lending program for small businesses maxed out Thursday and stopped accepting claims.
Small businesses in Giles County have been closed nearly a month amid the ongoing coronavirus pandemic.
The Small Business Administration said on its website that the agency is unable to accept new applications.
The $350 billion Paycheck Protection Program was a central piece of the massive $2 trillion economic rescue law passed just three weeks ago.
The Paycheck Protection Program was overwhelmed by demand from the moment it was launched April 3rd, and the program has now essentially run dry as small businesses around the nation beg for relief.
The program is aimed at helping businesses with less than 500 workers and keeping people employed by extending loans that are forgivable if businesses keep workers on payroll.