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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 ...
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 ...
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]
Kabbage publicly launched and began providing loans in May 2011. [4] In 2012, it opened its San Francisco office and subsequently raised US$30 million in Series C financing. [ 5 ] [ 6 ] Beginning in February 2013, the company expanded internationally, entering the United Kingdom [ 7 ] and raising further debt financing . [ 8 ]
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App. Maximum loan amount. Time to funding. Fees. Google Play rating. App Store rating. Albert. Up to $250. Instantly for a fee; 3-6 days free of charge. Instant cash advance fee
According to The Daily Beast, Polymer80 received a $371,000 PPP loan in mid-2021 for their reported 31 employees during the COVID-19 pandemic. [23] [24] As of around July 25, 2024, Polymer80 has ceased business reportedly due to the overwhelming cost of defending itself in court.
Applications for 2024 grants are now open and close on March 31, 2024. Additional private resources Here’s a look at just a few of the private-sector resources available to minority business owners: