Posted on 05/09/2021 12:43:50 PM PDT by dynachrome
The Paycheck Protection Program has run out of money for most borrowers before its planned May 31 end, the Small Business Administration said.
Going forward, the program will only accept new applications from community financial institutions, which typically serve minority borrowers, as about $8 billion in funding was set aside for such businesses.
The SBA will continue to fund outstanding approved PPP applications from other lenders but won’t accept any new applicants.
The exhaustion of funds, which was announced Tuesday, comes just weeks after the PPP was extended through the end of May to allow borrowers more time to apply for the forgivable loans. While many lenders and borrowers thought that the program would likely run out of money ahead of the May 31 deadline, the exact timing wasn’t known.
(Excerpt) Read more at cnbc.com ...
This is one of those things you apply for early because it wont be there after all the scam artists get into it.
The biggest thing a sapient recipient needs to know is that there is no shortage of jobs going begging...
>>This is one of those things you apply for early because it wont be there after all the scam artists get into it.
The scam artists are usually the first in - the rest of us are too busy working and/or running our businesses; for scam artists they sit around waiting to strike at fraud opportunities like this.
since Biden got elected, anyone that makes $32K per year or less, is better off staying at home collecting benefits than going back to work.
A lot of starter jobs are not going to be filled anytime soon.
When reading the title to this piece who didn’t immediately and correctly realize “most” meant non black borrowers?
>>How much did fraud contribute to this?<<
99.99%
That is good they are out of money.. Now people might go back to work!!!
People are complaining about jobs open and this has nothing to do with open positions.
The SBA program is not about available jobs. SMH
Right you are. Never post while distracted...
is PPP the name of one of the welfare give away programs?
if so, it is unconstitutional to divert or limit “benefits” to certain groups based on racist criteria
just saying
the racism of this administration stinks to high Heaven, and from all signals it will get worse as it is part of the SorozNazi/DNC scheme to create more and more divisiveness and hatred within USA
“Never post while distracted...”
That is un-freeperlike behavior, like reading the article and not just the headline.
;)
“Paycheck Protection Program” or an easy ways to make money thru fraud.
The NBA, the fast-food mega chains and the tens of thousands of Indian recruiters took it all again…
This isn’t fair! I wanted to start an alpaca farm. Buy 5 Bentleys. A vacation home in the Hamptons. Why God? Why? How can they run out of money? They have printing presses.
Or drinking
Nov.5, 2018:
New York congressional candidate Alexandria Ocasio-Cortez had a quick answer when asked how Americans would pay for the ‘Medicare for all’ plan she and other socialist-leaning Democrats favor: “Just pay for it.”
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Same with this stuff. Just print some more money. Get a whole lot of the fancy currency paper, start up the machines and roll out the bills.
Now let's not get too far out and wild. Settle down, please. People prefer staying at home and getting government money sent to their bank accounts. Inertia.
What movie was this from, please?
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