SBA has processed about 2.2 million loans, whose value is over $175 billion, since the start of the second round of the PPP loan processing on April 27, the statement added.
The second round of the SBA’s Paycheck Protection Program was launched on Monday, allowing lenders to issue forgivable, government-guaranteed loans to small businesses shuttered by the outbreak. The average loan size in the second round of the PPP loan processing has been $79,000, according to the statement released on Sunday.
The U.S. government’s $660 billion small business rescue program has stumbled on missing paperwork, technology failure, and the misdirection of funds to big corporations. It also faces the hurdle of forgiving those hastily arranged loans.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Maybe crude oil go to $15.
Not working because big business keeps taking the loans.
America has to get dollars 'circulating'!!
They will start printing the money in red. Not to signify blood or anything. They are just running out of green ink.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Small-business owners could face jail time as DOJ launches investigation into coronavirus loan programCompanies that are found to have misled the government about the necessity of the small business emergency loans could face penalties ranging from a loss of loan forgiveness to jail time. Hopefully they're starting with the companies that took the loans despite needing the loophole to qualify as anything other than a national chain... Small businesses? What about the banks who crashed the economy in 2007? How about the mega corporations who use the media to sway public opinion? How many Billionaires are going to get sued for all their fleecing?
Source: MarketWatch - 🏆 3. / 97 Read more »
Ireland unveils 6.5 billion euro coronavirus business packageIreland will allow firms impacted by the coronavirus crisis to warehouse tax liabilities for 12 months, offering a 'lifeline' as part of an additional package of business supports that could reach 6.5 billion euros ($7.14 billion), the government announced on Saturday. Thailand reports six new coronavirus cases Latest updates | cases per million population👇 COVID__19 Covid_19 I wonder how big is the aid package to Italy from EU Central bank? I love when countries take responsibilities for their decisions.
Source: Reuters - 🏆 2. / 97 Read more »