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The version of the bill passed by the Senate included the expanded funding for rural and minority communities, for SBA disaster funding, and the money for hospitals and testing, but it did not include more funding for state and local governments, nor the increased SNAP benefits. [1] The bill passed the Senate by voice vote on April 21, 2020.
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 ...
While money for the PPP program came from the federal government, banks and other lenders were tasked with vetting applicants to the program and distributing cash, and were paid a small percentage ...
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 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 ...
State laws regarding credit scores, credit reports, and insurance that were to remain in effect as a result of the amendments were outlined within the act. Under the act, consumers received more rights to explanations of their credit scores and the right to a free credit report each year.
While many small-business owners complained of missing out on crucial funding from the Paycheck Protection Program, others mistakenly ended up receiving their money twice — or multiple times.
Thanks to the U.S. Small Business Association's Paycheck Protection Program (PPP), banks were able to administer more than $669 billion in relief loans to small businesses and managed the ...