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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]
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 ...
SBA 7(a) loans are the most common option for business owners. Though some might require collateral, they are generally unsecured and are designed for working capital expenses. But you can use the ...
The agency's research shows the average worker who uses Earned Wage Access takes out 27 of these loans a year, meaning one loan for almost every biweekly paycheck. This can look similar to a ...
The Families First Coronavirus Response Act is an Act of Congress meant to respond to the economic impacts of the ongoing COVID-19 pandemic. The act provides funding for free coronavirus testing, 14-day paid leave for American workers affected by the pandemic, and increased funding for food stamps .
After making what it called “significant fixes” to the Public Service Loan Forgiveness (PSLF) program, the Biden administration on Thursday is announcing the approval of $4.5 billion in ...
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