In The News
From car dealers to construction companies, Minnesota employers hauled in $10.2 billion through the popular Paycheck Protection Program (PPP), ranking the state No. 15 in the U.S., according to data released Monday by the U.S. Small Business Administration.
Liz Mattingly had to wait two months for the $19,905 she was entitled to collect through the federal government’s Paycheck Protection Program.
The shop owner should have collected the money 10 days after the loan was approved by the U.S. Small Business Administration, which would have allowed her to rehire her furloughed workers sooner and get them off unemployment.
At least four members of Congress have reaped benefits in some way from the half-trillion-dollar small-business loan program they helped create.
And no one knows how many more there could be.
The surprise decline in the unemployment rate has shifted the discussion regarding additional COVID-19 relief legislation. Appearing on CNBC on Monday, White House senior adviser Kevin Hassett said that, while a fourth legislative package is highly likely, another
WASHINGTON―Four House Democrats are opposing a Department of Defense proposal to ease recent lobbying restrictions on former senior officials, arguing it would put the defense industry ahead of the taxpayer.
The Paycheck Protection Program Flexibility Act signed into law on June 5 eases some restrictions—like the spending timeline and parameters—but the adjustments don’t relieve the frustrations lenders and borrowers have expressed about the forgiveness application process.
Businesses have taken at least half a trillion dollars in coronavirus aid from the American public, and the government is refusing to disclose which companies are getting the money.
President Donald Trump on Friday signed into law a new version of the small-business loan program known as PPP that had been redesigned by Minnesota Democratic Rep. Dean Phillips and a Texas Republican colleague.
Throughout the COVID-19 crisis, small businesses across the country have been severely impacted by a sharp decline in revenue. Thousands of small business owners have been forced to let go of their employees, leaving millions out of work.
President Trump signed into law sweeping changes to the Small Business Administration's Paycheck Protection Program today, making the program's lending terms more favorable to restaurants, retailers and other businesses.