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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 ...
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 U.S. Treasury Department released Monday a highly anticipated trove of data identifying every company that has received a loan of more than $150,000 from the Paycheck Protection Program (PPP ...
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 ...
NBC News got loan data under the Freedom of Information Act after a court ruling and identified at least 60 debarred businesses that got PPP loans.
In December 2015, Gusto raised $50 million in an opportunistic round that valued the company at $1 billion. [23] In July 2018, Gusto completed a $140 million Series B funding. The round included raises from CapitalG, Dragoneer Investment Group, T. Rowe Price and others. [24] In July 2019, Gusto raised $200 million at a $3.8 billion valuation ...
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 ...
In 2020, during the COVID-19 pandemic, Anbow Education and Bay State College received a $1.47 million federal PPP loan through the Bank of America and an additional $794,000 in CARES Act-HEERF funding. [15] [16] The following year, the Small Business Administration fully forgave the outstanding principal of the PPP loan. [13]