Q&A: The nuts and bolts of the Paycheck Protection Program
Associated PressNEW YORK — Small businesses can still get help from the government’s coronavirus relief plan after Congress extended the Paycheck Protection Program until Aug. 8. Many businesses like restaurants and retailers whose revenue either slowed dramatically or stopped altogether are concerned that they’ll end up having to repay part of the money because they’ve had to use some of it to restart their companies. Many banks also enraged owners at the start by rejecting their applications if they didn’t have multiple accounts including existing loans or lines of credit. But the unclaimed amount also includes approximately $30 billion of dollars returned by large companies including high-profile names like the Los Angeles Lakers and restaurant chains Ruth’s Chris Steak House and Shake Shack.
History of this topic
The Paycheck Protection Program was a lifeline for small businesses. Its final days end with tumult and dashed hopes
LA Times
Administration pledges more support for minority businesses
Associated Press
These small businesses might not make it without more stimulus
CNN
JPMorgan investigating employees and clients over coronavirus stimulus programs
Live Mint
PPP: Relief went to hair salons, restaurants, law firms – and some members of Congress
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