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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 ...
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 Small Business Administration announced that the Paycheck Protection Program loan portal opens Friday, Jan. 15 at 9 a.m. ET for PPP-eligible lenders with $1 billion or less in assets. Business ...
The Palm Beach County State Attorney's Office in 2023 created a task force to investigate fraudulent Paycheck Protection Program claims, with charges to be pursued at the state level.
The Coronavirus Aid, Relief, and Economic Security Act, [b] [1] also known as the CARES Act, [2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States.
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In October 2017, Autobytel Inc. changed its name to AutoWeb, Inc. and changed its ticker from ABTL to AUTO. [2] During the COVID-19 pandemic, AutoWeb received $1.4 million in federally backed small business loans as part of the Paycheck Protection Program. The company received scrutiny over this loan, which was aimed at small businesses.