The Small Business Administration says that, without an emergency influx of cash, the Paycheck Protection Program, a low-and forgivable-interest loan system designed to help small businesses hurt by coronavirus-related lockdowns, will run out of cash by close of business on Wednesday.
The Paycheck Protection Program (PPP), passed as part of the third coronavirus relief package, the CARES act, is a fund of $349 billion, designed to buoy struggling businesses with fewer than 500 employees. Business that apply for PPP loans can apply later to have those same loans forgiven if they use the money to keep their employees on the payroll, pay rent, buy office supplies, or, simply, keep their doors open to commerce.
Freelancers and other independent workers who own their own businesses are also eligible to apply for the loans.
But banks like Wells Fargo told the Treasury Department late last week that applications were far outpacing availability.
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6 comments:
All voters need to Remember this. There should be hell for them to pay for messing up small businesses
If this wasn't so serious it would almost be comical. With the GOP in the White House it is the liberal lefts turn to be the rotten spoiled impish brat; pick up your toys...NO! Clean your room...NO! Brush your teeth...NO! Take out the trash...YOU CAN'T MAKE ME! Is Pelosi so secure anticipating Democratic victory come November? Especially with Biden as the presumptive nominee? And, here is the big one, with Harris as the prospective Veep pick who couldn't gain any traction in her failed campaign not even mustering a reasonable delegate percentage? Frankly, I think Pelosi is "spitting in the wind".
6:58
All voters need to remember 3 years of Russian collusion investigation. Impeachment for having a phone call with Ukraine, holding up the stimulus so Nancy can fill it with pork. Ect Ect Ect.
Print More damn $$$$$$$ & get it out to the businesses then !!!
Govt cranks it out 24/7 baby !!! Endless $$$$$$$$$$$$ get-er Done !
Let's BLOCK Democrat Funding !!!!
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