SBA On PPP Numbers: One Million Loans, $247B (So Far)
PYMNTS
APRIL 15, 2020
times their W-2 payroll if they apply. The loans are forgiven if the firms that receive the loans keep their payroll constant over the next eight weeks. In terms of the mechanics of the loans themselves, an important provision of the PPP program is loan forgiveness. SMBs with fewer than 500 employees can receive 2.5
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