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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 Herald previously reported on the struggles to obtain forgiveness faced by many small business owners who obtained their PPP loans through Kabbage. Under the rules of the program, the loans ...
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.
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 ...
Meant to keep employees on the payroll during a time of tremendous upheaval in the economy, PPP loans were an attractive program to borrowers because of the interest rate of just 1%, and could be ...
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 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.
The White House weaponized Twitter to drag members of Congress who oppose debt forgiveness for students loans, but benefited from PPP money. In a well-executed effort to offset criticism of its ...