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Exactly one week after the signing of the Coronavirus Aid, Relief and Economic Security (CARES) Act Act, the Payroll Protection Plan (PPP), a lifeline for small businesses, began providing ...
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 $2 million forgivable loan was part of the federal government's $349 billion Paycheck Protection Program (PPP). Many "mom-and-pop" businesses struggled to get PPP loans before the first round ...
Many "mom-and-pop" businesses struggled to get PPP loans before the first round of funding ran out. ... The average income on Fisher Island is $2.2 million, making it the richest ZIP code in the US.
Rank Designation ZCTA Population Per Capita Income 1 Montchanin, Delaware [2]: 19710 68 654,485 2 Houston, Texas: 77010 76 283,189 3 Rockland, Delaware [3]: 19732
Those employees, along with an army of contractors, are responsible for overseeing a loan portfolio that currently includes 48,000 PPP loans with an outstanding balance of $1.3 billion and dealing ...
In 2020, during the COVID-19 pandemic, Anbow Education and Bay State College received a $1.47 million federal PPP loan through the Bank of America and an additional $794,000 in CARES Act-HEERF funding. [15] [16] The following year, the Small Business Administration fully forgave the outstanding principal of the PPP loan. [13]
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