The U.S. House of Representatives yesterday approved additional funding for the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) portion of the CARES Act that provides low interest loans for small businesses that can be forgiven if the business uses 75% of the funds for payroll. The House vote follows the passage in the […]
U.S. Senate Approves Additional $320 Billion for Small Business Paycheck Protection Program
Passage in U.S. House expected tomorrow. The U.S. Senate yesterday approved additional funding for the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) portion of the CARES Act that provides low interest loans for small businesses that can be forgiven if the business uses 75% of the funds for payroll. Congressional Democrats held up […]
Treasury Secretary Says Paycheck Protection Program Will Have Funds to Support All Eligible Small Businesses
In a television interview today, Mnuchin assures small businesses that program will not run out of money and all eligible businesses will be funded. U.S. Treasury Secretary Steven Mnuchin today sought to assure small business operators in a television interview that the SBA Paycheck Protection Loan program for small businesses will have all necessary funding […]
$349 Billion Small Business Paycheck Protection Program Applications Open Today
Following President Trump’s signing of the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin announced that the SBA and Treasury Department have initiated a mobilization effort of banks and other lending institutions to provide small businesses with the capital they need. The […]