has already seen applications from 177,000 small businesses that account for $32.6 billion—almost 10% of the entire amount allocated by Congress.
The program will offer loans of up to $10 million at 1% interest to companies and nonprofits with fewer than 500 workers so they can cover two months of payroll and overhead expenses. If the borrower retains workers and doesn’t cut their wages, the government will forgive most or all of the loan and repay bank lenders.
theothersarahh How? And why are they when we just gave them billions? Is it a money or efficency problem?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How to Apply for a Small Business Loan Through the Coronavirus Stimulus PackageThe $2 trillion stimulus package allocates $350 million for the Paycheck Protection Program.
Source: wwd - 🏆 24. / 68 Read more »
Report: Treasury Department Will Seek Another $200 Billion For Small Business Stimulus Loan ProgramThe Paycheck Protection Program under the CARES Act got off to a rocky start, and banks now are overwhelmed with demand for $349 billion in federal loan money. More money for the big shots! What about the citizens? How about these idiots remove the 25% tariff on china and small businesses would have 25% more in their pockets
Source: Forbes - 🏆 394. / 53 Read more »
After a frenzied rush to file for small business loans, entrepreneurs nervously wait on bank approvalsStrong demand for the small business relief program is “a really good sign for what the economy might look like 2-3 months from now,” Labor Sec. Eugene Scalia says. Joe come on.🙄 Is China back to normal? Had their stock market oversold like ours? China is also giving investors hope. How many are going to fold and never come bacK?
Source: CNBC - 🏆 12. / 72 Read more »
Fed Preparing to Purchase New Small Business Payroll LoansThe Federal Reserve said it would launch a new program to buy loans that financial firms make through the government’s emergency small-business lending program, according to people familiar with the matter NeverTrumpers GregMannarino
Source: WSJ - 🏆 98. / 63 Read more »
Another Break From The Past: Government Will Help Churches Pay Pastor SalariesIn a development that could challenge the Constitution's prohibition of any law 'respecting the establishment of religion,' the federal government will soon provide money directly to U.S. churches to help them pay pastor salaries and utility bills. Then they should start paying taxes. But they don’t pay taxes. That’s awesome!
Source: NPR - 🏆 96. / 63 Read more »
Treasury preparing to seek more than $200 billion to replenish small business coronavirus programThe Treasury Department is asking for more than $250 billion to replenish a new small business loan program that's being quickly spent down. No more BAILOUT until we don't have an Account of how the $350 billion was spent. Did Ivanka suck up all the initial funds? China is responsible for a biological warfare corona
Source: washingtonpost - 🏆 95. / 72 Read more »