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The SBA and Treasury Department released a new, five-page forgiveness application for small business owners who received a PPP loan
"The SBA's new streamlined application portal will simplify forgiveness for millions of our smallest businesses—including many sole proprietors—who used funds from our Paycheck Protection ...
President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
A key part of the Small Business Administration's Paycheck Protection Program is forgiveness. "The next big critical moment here is going to be some clear guidance on the forgiveness piece of this ...
Provisions of the Paycheck Protection Program and Health Care Enhancement Act include the following. Appropriates an additional $320 billion of funding for the Paycheck Protection Program, which provides low-interest loans for payroll costs and other expenses to small businesses that are forgivable under certain circumstances. [19]
Small businesses that received PPP loans of $50,000 or less can now apply for forgiveness using a simplified application form. Small businesses that received PPP loans of $50,000 or less can now ...
On April 3, 2020, Carranza announced the launch of the Paycheck Protection Program – a $349 billion emergency loan program provided through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). [32] Since PPP's launch, nearly 1.7 million forgivable loans have been approved by SBA. [33]
An NPR analysis of SBA data released in January found that 92% of PPP loans were granted full or partial forgiveness. Some businesses with rich owners were among those that got off the hook.
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