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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 ...
So far, the Small Business Administration has not made public the list of roughly 4.6 million businesses that have received close to $513 billion in government-backed aid. At least 4 members of ...
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 loan program was primarily intended to protect employee pay during the COVID-19 pandemic. The loans were eventually forgiven, and Kelly was scrutinized for receiving the loan while serving as a member of Congress, though he denied any wrongdoing. [11]
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.
The Paycheck Protection Program (PPP), was designed to help businesses maintain their employee headcount. The funds were distributed as loans, however, they could be forgiven under certain conditions.
For 25 years, he served as president of the Smucker Company, a family-owned commercial construction firm in Smoketown [4] that received $4.83 million in PPP loans in 2020 [5] and 2021 [6] that were subsequently forgiven. Smucker is a Lutheran and has three children with his wife, Cindy. [7] [3]
The loans were forgiven in the amount of $978,029 on May 17, 2021, according to filings in federal court. The settlement is not "an admission of liability" by the church, the filings said.