CNBC: Small business rescue loan program hits $349 billion limit and is now out of money

[Maddox]

The Small Business Administration's rescue loan program hit its $349 billion limit on Thursday and is now out of money as the nation's top Republicans and Democrats struggle to agree on how to restore its funds.

The Small Business Administration website reads that it is "unable to accept new applications for the Paycheck Protection Program based on available appropriations funding. Similarly, we are unable to enroll new PPP lenders at this time."

Small business rescue loan program hits $349 billion limit and is now out of money

The Small Business Administration's rescue loan program hit its $349 billion limit on Thursday and is now out of money.

www.cnbc.com