PPP SMALL BUSINESS LOANS: How $659 billion in coronavirus-linked loans are being spread across lenders, states, and industries
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In April, the US government launched the historic Paycheck Protection Program (PPP) to provide financial assistance to small businesses struggling amid the pandemic.
The PPP has so far allocated a staggering $659 billion across two separate installments. Funds for the $349 billion first round were tapped out in less than two weeks, while uptake slowed during the second round — $132 billion is still undrawn — as complex requirements and murky loan forgiveness guidelines are deterring small businesses from applying.See the rest of the story at Business Insider
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