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The church agreed to repay more than $70,000 in PPP loan money used to make payments on the principal mortgage balance on one of its four properties. ... 2024 at 4:16 PM ... Details were available ...
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]
Those employees, along with an army of contractors, are responsible for overseeing a loan portfolio that currently includes 48,000 PPP loans with an outstanding balance of $1.3 billion and dealing ...
Exactly one week after the signing of the Coronavirus Aid, Relief and Economic Security (CARES) Act Act, the Payroll Protection Plan (PPP), a lifeline for small businesses, began providing ...
In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac.In 1992, in the wake of the savings and loan crisis, and over concern that similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban ...
Democratic members of the House subcommittee overseeing the coronavirus response released a report on Tuesday, flagging billions of dollars in questionable PPP loans and a "high risk" for fraud ...
Residential low doc loans are designed for self-employed borrowers who cannot provide tax returns as evidence of their income. They still require some form of supporting evidence of the borrowers income, typically in the form of BAS statements, although some lenders will accept an accountant's declaration or bank statements.