Paycheck Protection Program

DOJ Alleges Man Faked 120 Employees To Get $3M PPP Loan
DOJ Alleges Man Faked 120 Employees To Get $3M PPP Loan
June 23, 2020  |  Security & Fraud

A 44-year-old Texas man, Fahad Shah, was charged with fraud for allegedly attempting to file fake loan applications for the Paycheck Protection Program (PPP), according...

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Some PPP Borrowers Foresee Layoffs When PPP Money Runs Out
Some PPP Borrowers Foresee Layoffs When PPP Money Runs Out
June 23, 2020  |  Loans

After using their Paycheck Protection Program (PPP) loans, 14 percent of borrowers foresee needing to lay off staffers, per a survey from the NFIB Research Center. Half...

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Today In Payments: Wirecard Says $2.1B Likely Didn’t Exist; Checkout.com Raises $150M On $5B Valuation
Today In Payments: Wirecard Says $2.1B Likely Didn’t Exist; Checkout.com Raises $150M On $5B Valuation
June 22, 2020  |  News

In today’s top news, Wirecard says the missing $2.1 billion from its Philippines accounts probably never existed, and checkout.com raised $150 million. Plus, U.S. consumers...

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Treasury To Release SMB Data On PPP Loans
Treasury To Release SMB Data On PPP Loans
June 22, 2020  |  Loans

In a 180-degree turn, the Trump administration now says it will release the names of Paycheck Protection Program (PPP) recipients and the amount of taxpayer-funded...

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Square Capital Processed 76K PPP Loans Totaling $820M
Square Capital Processed 76K PPP Loans Totaling $820M
June 15, 2020  |  Loans

Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported....

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Democrats Ask Bank CEOs For PPP Records
Democrats Ask Bank CEOs For PPP Records
June 15, 2020  |  Loans

U.S. Democratic lawmakers, in letters to the chief executives of several large banks, demanded the release of documents related to loans made under the government’s...

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Kudlow Slams $600-A-Week Extra Jobless Benefits, Says Trump Might OK Back-To-Work Bonus
Kudlow Slams $600-A-Week Extra Jobless Benefits, Says Trump Might OK Back-To-Work Bonus
June 15, 2020  |  Economy

White House Economic Adviser Larry Kudlow said in a CNN interview that the $600-a-week funds that Americans receive on top of regular unemployment benefits might...

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Senators Look To Extend PPP Loans To Include More SMBs
Senators Look To Extend PPP Loans To Include More SMBs
June 10, 2020  |  Loans

A group of Democratic senators has introduced a new Paycheck Protection Program (PPP) for small businesses with 100 or fewer employees, including sole proprietorships and...

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Mnuchin: PPP Kept ‘Tens Of Millions’ Employed
Mnuchin: PPP Kept ‘Tens Of Millions’ Employed
June 10, 2020  |  Economy

The Paycheck Protection Program (PPP) has supported over three-quarters of the small- to medium-sized business (SMB) payroll in 50 states, Treasury Secretary Steven Mnuchin said...

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