Thursday that it’s unlikely a public company with substantial market value and access to capital markets would qualify for a PPP loan — and that companies have until May 7 to return their loans without penalty.Friday that hedge funds and private-equity firms are ineligible to participate in the program, potentially quelling a barrage of outrage over the possibility that well-heeled traders might beat out struggling small businesses for relief aid.
As a result of companies returning their loans, “an additional significant amount of money” will be available to make more PPP loans, RubioThe SBA has said there have been upgrades to its processing system, called E-Tran, and that the system was updated to account for a provision in the new relief bill requiring that smaller lenders disburse at least $60 billion of the funding, another concern for potential delays in processing applications.
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10 days late, thanks to Pelosi...who wanted to rob the nation’s piggy bank with her Far Left wish list of garbage legislation
Let's hope more actual small business get to it.
Hopefully they'll give out more than 1,000,000 loans this time
What about the 5 “GazillionTrillion” the Hamptons/Bankster/Private Equity already just received?
If Trump is involved, it will turn to shit. Guaranteed
But how long will that money last? 🤔
Small Enterprises needs help 👍🏽
And what is the loophole that will allow corporations to line their pockets this time?
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Trump signs $484 billion coronavirus relief bill to boost small business, hospitals and testingThe new coronavirus relief package, signed by President Trump today, includes: -$310 billion in funds for the PPP -$60 billion for SBA disaster assistance loans and grants -$75 billion in grants to hospitals -$25 billion to bolster coronavirus testing Can't you do 400 million tests for $ 25 billion? $500M for Lysol injections. Government waste. Never should’ve shut everything down.
Source: CNBC - 🏆 12. / 72 Read more »
Former SBA employees: Why it's hard for small businesses to get loans - Business Insider'Companies that need the money can't get it:' Former Small Business Administration officials say that the disaster loan application process has always been stacked against small businesses
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First on CNN Business: JPMorgan, Ruth's Chris accused of cheating small businesses out of emergency loansJPMorgan Chase, Ruth's Chris Steak House and others are being accused in a lawsuit of efforts to 'cheat' small businesses out of federal stimulus funding amid the coronavirus pandemic 🤑What else is New. .Shameful !!😖😠😡🤬
Source: CNN - 🏆 4. / 95 Read more »
Trump signs $484B small business coronavirus relief bill into lawPresident Trump on Friday signed the nearly $500 billion “Phase 3.5” emergency interim coronavirus relief package into law after Congress passed legislation this week replenishing the fund for small businesses and adding billions of dollars in aid to hospitals across the country amid the COVID-19 pandemic. And again 99.99% of the small businesses ,WILL NOT SEE ANY OF THE STEMULESS PACKAGE, ALL FALSE HOPE FOR THE WORKING CLASS AMERICAN PEOPLE. SO SAD. The GREAT FALSE HOPE in the GUISE OF A STICK UP THE ASS AGAIN, THE FIRST ONE HURT BAD ENOUGH. So sad the money is not going to where it should be. And claims his comments yesterday were merely sarcasm.
Source: FoxNews - 🏆 9. / 87 Read more »
Publice companies got $550M of loans intended for 'small businesses' - Business InsiderAshford Hospitality Trust claimed the largest PPP loan — $30.1 million — followed by Meritage Hospitality Group, which claimed $29.1 million. Maybe the owners are Ugandans. 😂😂😂😂 The way Western media can brand us as professional corrupt people, now you know, universality 🐷🐷🐷🐷🐷 Scroll their names at bottom of tv screen 📺
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