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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 ...
The CARES Act created the $349-billion Paycheck Protection Program, which provided low-interest loans to small businesses that were forgivable if they maintained their employees and payroll. The $349 billion was fully allocated within 13 days. During those 13 days, 1.6 million loans were approved by nearly 5,000 banks and other lenders. [3]
The Paycheck Protection Program was one of the signature federal economic relief measures in the early days of the COVID-19 pandemic, providing small businesses loans of up to $10 million that ...
Over 25 PPP loans worth more than $3.65 million were given to businesses with addresses at Trump and Kushner real estate properties, paying rent to those owners.
Creates a $669 billion small-business loan program called the Paycheck Protection Program (PPP). (Originally $349 billion, the Paycheck Protection Program and Healthcare Enhancement Act added $320 billion.) Funds are made available for loans originated between February 15 and June 30, 2020.
Online lender Kabbage was one of the biggest lenders in the first year of the Paycheck Protection Program, processing more than $7 billion in loans. Facing federal PPP fraud investigations, online ...
An employer is not allowed to take the Employee Retention Credit on any wages or health plan expenses that the employer counted for its Paycheck Protection Program (PPP) loan forgiveness, Emergency Paid Sick Leave, or Emergency Paid Family Leave. [6] [8]
Kelly's car dealerships received Paycheck Protection Program loans of between $450,000 and $1.05 million to keep staff on the payroll during the coronavirus pandemic. [9] The figure was later estimated to be a combined amount of $974,100. [10] The loan program was primarily intended to protect employee pay during the COVID-19 pandemic. The ...