There are 20 article(s) tagged Paycheck Protection Program:

• November 2024

  • 2 Tennessee tax preparers charged with filing $65 million in false claims

    A federal grand jury indicted two Olive Branch residents on more than 50 counts of wire fraud, money laundering, preparing false tax returns and obstruction of justice.

    By The Daily Memphian Staff November 27, 2024

• October 2022

  • Five local IRS workers were among first in nation to face charges related to PPP fraud. Here may be why.

    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. 

    By Jane Roberts October 31, 2022

• August 2022

  • 19,000 local students — from last year alone — may see up to $20K in loan forgiveness

    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? 

    By Jane Roberts August 28, 2022

• January 2021

  • PPP loans: What you need to know

    PPP loans issued after June 5, 2020 have a maturity of five years at an interest rate of 1%.

    By Christin Yates January 18, 2021

  • Second round of PPP applications opens

    Here’s what Memphis area business owners need to know as the second round of Paycheck Protection Program funds becomes open for applications.

    By Christin Yates January 18, 2021

• August 2020

  • Kustoff talks CARES Act, PPP and USPS during Bartlett chamber speech

    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.

    By Michael Waddell August 20, 2020

  • Bank of Bartlett assists 1,500 businesses through Payroll Protection Program

    With most businesses struggling this year due to the COVID-19 pandemic, the Bank of Bartlett has served as a lifeline for more than 1,500 businesses and 10,600 employees.

    By Michael Waddell August 18, 2020

  • SBA releases PPP loan forgiveness guidelines

    There’s a possibility that a third application will be released, which would be a “super EZ” application for loans under a certain amount.

    By Christin Yates August 06, 2020

• July 2020

  • PPP loans offset COVID-19 losses for small businesses

    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.

    By Wayne Risher July 08, 2020

  • Paycheck Protection loan applications resume

    Paycheck Protection Program forgivable loan applications resume with Aug. 8 deadline and nearly $130 billion still left in the program till.

    By The Daily Memphian Staff July 06, 2020

• June 2020

  • PPP small business loans more likely to be forgiven under new guidelines

    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.

    By Christin Yates June 15, 2020

  • Kustoff admits two congressional wrongs in providing COVID-19 relief

    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.

    By Michael Waddell June 10, 2020

  • Senate passes fix for small-business coronavirus relief

    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.

    By The Associated Press June 03, 2020

• May 2020

  • Second round of PPP funds to soon run out

    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.

    By Christin Yates May 08, 2020

  • Coronavirus live blog, April 16: Lee says economic reopening could focus on low-risk areas

    Gov. Bill Lee provides an update on economic recovery for Tennessee.

    By The Daily Memphian Staff May 08, 2020

  • Cohen says federal money for local government revenue losses could be in sixth relief bill

    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.

    By Bill Dries May 05, 2020

• April 2020

  • PPP loans are complicated, especially for restaurateurs

    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.

    By Jennifer Biggs April 30, 2020

  • Bartlett financial institutions assisting businesses, individuals during COVID

    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.

    By Michael Waddell April 18, 2020

  • Restaurateurs grapple with confusing SBA loan application process

    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.

    By Jennifer Biggs April 07, 2020

  • Ready, set, apply: Law firm’s chart simplifies forgivable loan program

    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. 

    By Tom Bailey April 06, 2020