Small business loan program out of money amid impasse over new funds..

[r2d2]

@tacobell fan did you apply?

The initial $349 billion pool for emergency loans for small businesses derailed by the coronavirus pandemic has run dry as Republicans and Democrats squabble over how to replenish the relief program.

The Treasury Department and Small Business Administration (SBA) have tapped the entirety of funding allotted for the Paycheck Protection Program (PPP), which offers forgivable loans to small businesses intended to keep workers on payroll and small firms from going under.

"The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding. Similarly, we are unable to enroll new PPP lenders at this time," the SBA said in a statement Thursday morning.

Created through the $2.2 trillion economic relief bill enacted by Trump last month, the PPP unleashed a wave of demand for emergency loans across the U.S., overwhelming banks, credit unions and SBA technology.

[Printcopyscan]

Mana consultancy owners kummi ten__garu 

 

E program ni

[TechAdvice]

1 hour ago, Printcopyscan said:

Mana consultancy owners kummi ten__garu 

 

E program ni

There are some questions in the app process that indicates it cannot be paid to non-resident aliens And asking to deduct out of what is being requested  .. so not sure how much that  applies to consultancy owners 

[tacobell fan]

I did but I don't think it works because there is no visibility on the approval process or how much money banks have access

[basha786]

just like any other country only rich and influencials got the money - or those who have contacts with right people - no or very few  common man