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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-employed workers, sole proprietors, certain nonprofit organizations ...
The Paycheck Protection Program allocated about $800 billion in loans through banks that were entirely guaranteed by the Small Business Administration and, in almost all instances, forgiven as ...
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.
The Coronavirus Aid, Relief, and Economic Security Act, [ b][ 1] also known as the CARES Act, [ 2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States. [ 3][ 4] The spending ...
A Miami-Dade County man thought it was good idea to invest $10 million in a local personal protective equipment and bulk food re-sale business in the midst of the COVID-19 pandemic.
The scam using doll faces to create false IDs made up a small part of the estimated $80bn in fraud ... to small businesses in dire straits as the pandemic took hold of the country in the spring of ...
David Adler Staveley (born 1967) is an American fraudster who was the first person to be charged with fraud in relation to the Paycheck Protection Program. Staveley, along with David A. Butziger, attempted to steal over $543,000 from the Paycheck Protection Program in forgivable loans for four businesses he either did not own or were no longer in business.
The Houston Business Journal reported that Osteen’s Lakewood Church was granted $4.4M in Paycheck Protection Program bailouts. The loan was the third-highest in the Houston area during the ...