SPACs took about 30 startups public after the companies had received government-backed PPP loans, meant to help businesses during the pandemic.
Gregory Blotnick is accused of transferring a "vast majority" of the money he got from five PPP loans to his personal trading accounts.
Fed economists said small-businesses closures in the past year were lower than expected, as government aid like the PPP may have helped them survive.
Small businesses can now apply for aid from the Paycheck Protection Program through May 31, and applications will be processed through June 30.
Small businesses have experienced significant revenue drops during COVID-19 but remained able to make payments with the help of government aid.
In this Insider webinar, three tax experts explain how small businesses can master their taxes, including how to claim PPP loans, expenses, and credits.
The biggest questions about small business taxes this year are around PPP and the employee retention credit.
Biden's changes to the PPP loan rules are designed to ensure that smaller companies aren't left behind financially, the White House said.
The Paycheck Protection Program is back. For millions of small business owners still struggling to pay rent and employ workers, the federal government’s forgivable loan program is a lifeline. This round looks a little different than the original that launched in the spring. It’s aimed at even smaller businesses, and […]
Many minority-owned businesses were left waiting for funds until the final weeks of the Paycheck Protection Program, according to an analysis from The Associated Press. “Many of our businesses were being turned down in the first and second round of funding. That caused application fatigue and frustration,” Ron Busby, president […]
Want to know what the Paycheck Protection Program means for you? Sign up for our live event on January 5 at 1 PM for a conversation with Insider journalists. And submit questions to be asked here. The Paycheck Protection Program is back. To find out what that $US325 billion in […]
Top congressional leaders clinched a stimulus deal on Sunday after months of on-again, off-again negotiations. The federal coronavirus relief package will contain $US600 checks and $US300 in added weekly unemployment benefits. Votes on the package are expected to take place Monday. Visit Business Insider’s homepage for more stories. Congressional leaders […]
The federal PPP program gave loans to small businesses to keep employees on payrolls. The maximum loan was $US10 million, and loans could be forgiven under certain circumstances. Franchisees who owned multiple locations of fast-food chains received $US1 billion in aid, the Counter reported. Visit Business Insider’s homepage for more […]
President-elect Joe Biden threw his support behind a compromise relief plan in a CNN interview. “I think it should be passed, and I think that, in fact, we’re going to need more,” Biden said in an interview with CNN’s Jake Tapper that aired Thursday evening. The relief plan appeared to […]
Businesses at properties owned by the Trump Organisation and Jared Kushner’s family received 25 Paycheck Protection Program loans, which amounted to $US3.65 million, NBC News reported. The Treasury Department rolled out the program to keep small businesses afloat during the pandemic. But the newly released data showed many larger companies […]
Over half the funds from the Paycheck Protection Program (PPP) went to just 5% of total recipients. In the past, Republicans have said the program has been working as intended, but banks have reported record business-loan fraud suspicion in the months of June and July. The program has been marred […]
President-elect Joe Biden will inherit a struggling economy when he takes office in January. Republicans may maintain control of the Senate, depending on the outcome of two Senate runoff races in Georgia. Biden could provide student-debt relief, repurpose unspent federal relief funds, and raise the minimum wage for federal contractors […]