paycheckprotectionprogram
The Paycheck Protection Program (PPP) was a small business lending program created by Congress in 2020 to provide loans to save businesses from the economic impacts of the COVID-19 pandemic. Q2 2021 hedge fund letters, conferences and more The Characteristics Of The PPP ProgramThere were two characteristics of this program that made it unique. First, a PPP loan could convert to a forgivable grant if the business spent the money on specific things, such as salaries for employees. Second, financial institutions did not use business or personal credit scores to determine access to credit. Credit ...
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Study: More Evidence Of Inequity In Access To Bank Services To Help Small Businesses Survive The Pandemic Q4 2020 hedge fund letters, conferences and more Black And Latino Small Business Owners Had Less Access To Lease And Loan ModificationsThe federal government’s Paycheck Protection Program provided forgivable loans to help businesses survive the COVID-19 economic collapse. But that wasn’t enough. About four million small businesses closed permanently in 2020, and many needed other options, like modifications to outstanding loans and credit card debt. New research from the National Community...
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Washington Post: ‘Paycheck Protection Program money went to firms that have drawn sanctions and received hundreds of consumer complaints’ Q3 2020 hedge fund letters, conferences and more Debt Collectors And Payday Lenders Collected Over $580M In PPP LoansWASHINGTON, D.C. — The Washington Post is reporting that over 1,800 taxpayer-backed Paycheck Protection Program (PPP) loans went to debt collectors and high-interest payday lenders — totaling more than $580 million. According to the analysis, “more than 170 of those recipients have been the subject of a multitude of complaints — each racking u...
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Reston, VA, January 15, 2020 — In a bill signed into law on Dec. 27 of 2020, Congress injected an additional $284 billion more into the Paycheck Protection Program. Small businesses will now have more access to aid as many remain to struggle. Q3 2020 hedge fund letters, conferences and more The law not only provides additional loan relief for restaurants and other small businesses, but it caps the size of relief seeking businesses and simplifies the loan forgiveness process for applicants. New Round Of Funding Is Available With The PPP2Informally labeled as “PPP2,” the new round of funding is ...
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Over 372,000 Restaurant and Bar Workers Lost Their Jobs Over the Holidays in Largest Job Loss Since April Q3 2020 hedge fund letters, conferences and more Restaurants and Bars Make Up 73% of December Losses; Lead Overall Pandemic Job Losses for Eleventh Consecutive Month Unemployment in Leisure and Hospitality is 157% Higher Than the National Average Restaurant And Bar Workers Lost Over 372,000 JobsWASHINGTON, D.C. -- Today, the Independent Restaurant Coalition (IRC) released the following statement in response to Bureau of Labor Statistics’ December jobs report, which showed food and beverage...
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Congress gives rich & powerful Christmas bonuses through expensive tax breaks in Covid relief bill Q3 2020 hedge fund letters, conferences and more Big Business Gets Extra Goodies, Cutting What’s Available for Working Families Struggling Through Holiday Season; Multinational Corporations, Fancy Restaurants, Movie Studios All Score Pricey Gifts Covid Relief Bill Will Include $220 Billion In Presents(WASHINGTON, D.C.) Like a misguided Santa shortchanging the poor side of town in order to give more to the rich kids, Congress in its year-end pandemic relief bill included over $220 billion in prese...
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