President Donald Trump’s administration has approved $1.3 billion in VA loans to the private sector, including $1 million for a “private loan” to Blue Cross and Blue Shield of Texas, according to a Department of Veterans Affairs (VA) news release.
The Department of Labor has approved a $1,000 loan for a VA medical facility.
The news release did not provide additional details on the funds, citing the need to maintain the VA’s “long-term funding capacity” to help the agency meet “its mission.”
The VA also has $500 million earmarked for the construction of a VA clinic in the next four years.
Trump has said the VA is “not profitable.”
The Department of Defense and Veterans Affairs are both struggling financially.
The Department’s $2.6 trillion debt to the public is more than double the $1 trillion the federal government owed to private creditors in the first half of the year, according a Wall Street Journal analysis.