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Funds for the $349 billion Paycheck Protection Program have run out as of April 16, according to the Small Business Administration. The program, which was part of the $2.2 trillion CARES Act, was first launched 14 days prior.

The program was established to provide loans to businesses with 500 or fewer employees, with part of the money to be forgiven if employees were kept on the payroll. More than 1.4 million loans were approved as of April 15, the New York Times reported.

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