he Treasury Department is planning to ask Congress for another $200 billion to replenish the Paycheck Protection Program, which
sets aside $349 billion in rescue loans for small businesses, as demand for financing surges and banks struggle to keep up.people briefed on the matter.banks say guidance from the federal government was too slow to come and confusing once it did arrive, andSenator Marco Rubio , who is the chairman of the Senate Small Business and Entrepreneurship Committee, tweeted on Monday that the program is already in urgent need of more funding.
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.
SBAgov USTreasury More money to be loaned to businesses, how wonderful! But wait what happened to the initial 350 billion Transparency is an unfamiliar word for our government. SmallBusiness PPP EIDL
Uh no. Why do we go to school when so called business men can't even survive just a few months without business? And the ones who risked being in a casino should NEVER get bailed out. Is this kindergarten for babies? Capitalism is a joke when it needs socialism to bail it out.
How about these idiots remove the 25% tariff on china and small businesses would have 25% more in their pockets
If you are a small business and have received help please comment.
More money for the big shots!
What about the citizens?