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Of that amount, $60 billion is for PPP loans made by small banks, small credit unions, and community financial institutions. [19] [20] Appropriates an additional $10 billion for emergency Economic Injury Disaster Loans. [21] [20] Expands eligibility for emergency Economic Injury Disaster Loans to farms and agricultural-related businesses. [22] [20]
Less than two weeks after launch, the Trump administration’s Paycheck Protection Program (PPP) for small businesses slammed by coronavirus has run out of funds.
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 ...
Banks were supposed to start processing loan applications on Thursday at midnight from small businesses under the $349 billion Paycheck Protection Program, but they weren't prepared for the onslaught.
He would instruct the Small Business Administration (SBA) to provide loans to businesses affected by the pandemic, and would ask Congress for an additional $50 billion to help hard-hit businesses. He would request that tax payments be deferred beyond April 15 without penalty for those affected, which he said could add $200 billion in temporary ...
Millionaire artists including Post Malone, Lil Wayne, Chris Brown, Nickelback, Steve Aoki and others received some $200 million in pandemic relief as part of the Small Business Administration’s ...
Here's how cities and states hit hardest by the pandemic are responding.
The SBA was created on July 30, 1953, by Republican President Eisenhower with the signing of the Small Business Act, currently codified at 15 U.S.C. ch. 14A.The Small Business Act was originally enacted as the "Small Business Act of 1953" in Title II (67 Stat. 232) of Pub. L. 83–163 (ch. 282, 67 Stat. 230, July 30, 1953); The "Reconstruction Finance Corporation Liquidation Act" was Title I ...
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