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The original CARES Act proposal included $500 billion in direct payments to Americans, $208 billion in loans to major industry, and $300 billion in Small Business Administration loans. [ 7 ] [ 8 ] As a result of bipartisan negotiations, the bill grew to $2 trillion in the version unanimously passed by the Senate on March 25, 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 ...
A 115 percent fee for a $500 loan is $57.50. Lenders often charge a flat fee for every $100 you borrow. That may seem like a small price if you need to fill the gas tank to get to work, get a ...
Two weeks ago, the White House froze spending on federal loans and grants, plunging organizations across the country into uncertainty and creating chaos for nonprofits in the poorest, most rural ...
An amendment passed in July 1932 allowed the RFC to provide loans to state and municipal governments. The purpose of these loans was to finance projects like dams and bridges, and the money would be repaid by charging fees to use these structures. To help with unemployment, a relief program was created that would be repaid by tax receipts.
Payday loans: A short-term loan repaid on the borrower’s next payday or when their monthly SSA benefits are received. The borrowing limit varies, but the common payday loan amount is $500.
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