Economic rescue plan includes forgivable loans

WASHINGTON, D.C. (WNAX) – The massive economic rescue plan passed by Congress has a number of programs aimed at helping businesses stay afloat and keep their employees.

South Dakota Senator Mike Rounds says one program involves forgivable loans.

Rounds says companies need to keep their people on the payroll.

Rounds says the money will come through local banks.

Congress passed three phases of economic bailouts in the past month totaling over $2.3 trillion.