who funds the ppp loans

Best answer


Congress

People also ask


  • How many PPP loans have been approved?

  • Currently, the total PPP loans approved is reported at nearly 8.9 million on FederalPay.org. The average company had a total of 10 employees and the average loan amount is $83,156.

  • What can I use PPP loan proceeds for?

  • In addition to payroll, rent, covered mortgage interest, and utilities, the Paycheck Protection Program will now let you use loan proceeds for: 1 The percentage of both first- and second-draw PPP loans that must be used for payroll expenses.

  • What is the third round of PPP loans?

  • A third round of Paycheck Protection Program (PPP) loans was authorized by the passage of H.R. 133: Consolidated Appropriations Act, 2021 into law on Dec. 27, 2020. Changes made by the Biden administration provide targeted assistance to very small businesses and previously underserved individuals.

  • How many businesses have received PPP loans related to coronavirus (covid-19)?

  • A total of 109,069 businesses across the United States have received Coronavirus-related Paycheck Protection Loans (PPP) loans from the Small Business Administration of the MAXIMUM available amount of $10,000,000 (ten million dollars).

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