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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 ...
Kabbage provided small businesses with debt facilities. In March 2020, Kabbage suspended lending services for active and new customers in favor of offering loans to U.S. businesses through the PPP (Paycheck Protection Program) introduced as part of the Trump administration's COVID-19 economic stimulus package.
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]
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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. ... zero jobs or did not report a ...
On August 15, 2024, the Department of Justice announced that Lisa Bloom and Braden Pollock, senior managers at The Bloom Firm, agreed to pay $274,000 to settle allegations under the False Claims Act. The settlement resolves claims that the firm falsely certified the use of Paycheck Protection Program (PPP) loan funds for eligible payroll ...
According to a news release, "until Congress appropriates additional funds, the SBA is pausing new loan offers for its direct, low-interest, long-term loans to disaster survivors.