There are 19 article(s) tagged Paycheck Protection Program:
The U.S. government issued $800 billion in PPP loans, but studies show that up to 15% — or $76 billion — in loans may have been awarded improperly, making it likely one of the widest abused federal programs in the modern era.
A large number of Memphians could to see a dramatic reduction in their debt load, under a new student loan forgiveness program from President Joe Biden. But is that a good thing?
PPP loans issued after June 5, 2020 have a maturity of five years at an interest rate of 1%.
Here’s what Memphis area business owners need to know as the second round of Paycheck Protection Program funds becomes open for applications.
David Kustoff touts the CARES Act and Paycheck Protection Program, but says the most recent attempt at relief cost too much. He also says the postal service must adapt to new conditions.
There’s a possibility that a third application will be released, which would be a “super EZ” application for loans under a certain amount.
SBA data suggests Paycheck Protection Program thus far has aided more than 14,000 Shelby County businesses and helped retain more than 50,000 jobs.
Paycheck Protection Program forgivable loan applications resume with Aug. 8 deadline and nearly $130 billion still left in the program till.
With the new flexibility measures in place, bonuses, hazard pay and pay for furloughed employees can be included in payroll expenses as well as taxes withheld from employees’ paychecks.
Congressman said he would not support additional federal unemployment payments, but suggested perhaps a one-time, return-to-work bonus of up to $1,200.
The new measure gives business owners 24 weeks to spend the federal aid — instead of eight as originally designed — and extends the program through the end of the year while also lengthening the maturity date and deferral period of the loans.
The second round of the Paycheck Protection Program's forgivable-loan funds is running out. Banks are scrambling to help small businesses before the money is gone.
Gov. Bill Lee provides an update on economic recovery for Tennessee.
In an online press conference Tuesday, Cohen also talked about offering mail-in absentee voting as an option to all in the November presidential general election.
The Paycheck Protection Program loan could be a lifeline to restaurants, or it could be of no use at all. Experts say the loan, and especially its forgiveness criteria, is complicated.
Two Bartlett financial institutions – Bank of Bartlett and First South Financial Credit Union – say they have all hands on deck to assist local businesses and individuals impacted by the COVID-19 pandemic and economic crisis.
Restaurateurs find applying for loans under the CARES Act to be time-consuming and confusing, but now they hope the money is on the way so they can put people back to work.
The $349 billion can be free money for Memphis small businesses hurt by COVID-19, but it's first-come, first-serve for the nationwide Paycheck Protection Program.
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