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Continue reading ->The post PPP Loans: Lender List and Requirements appeared first on SmartAsset Blog. ... (CARES) Act Act, the Payroll Protection Plan (PPP), a lifeline for small businesses ...
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]
PPP is designed for small companies and has a maximum of $10 million loan value, but Vibra received the loans split between 26 LLCs at the same address. 23 of the LLCs were funded by Orrstown Bank, and almost all were funded on the same day. Vibra also received $13 million in health care grants from CARES act and $41 million in Medicare payment ...
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 ...
In the same meeting where the CEO informed employees of the PPP loan, she also "reported that giving to the Church had increased from approximately $1.3 million per month to approximately $1.5-1.8 ...
The Employer Identification Number (EIN), also known as the Federal Employer Identification Number (FEIN) or the Federal Tax Identification Number (FTIN), is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to business entities operating in the United States for the purposes of identification.
The scam using doll faces to create false IDs made up a small part of the estimated $80bn in fraud connected to the Paycheck Protection Program (PPP), according to The Messenger.