PPP
On President Biden’s signing of bills aimed to combat COVID-19 fraud, Main Street Alliance Executive Director Chanda Causer had this to say: Small Businesses Suffered From COVID-19 Fraud“COVID-19 relief measures, like the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL), were intended to keep our small businesses, households, and economy afloat. Unfortunately, the Trump Administration did not put in place appropriate safeguards. Big businesses and fraudsters took advantage, while small businesses suffered and many closed for good. Q2 2022 hedge fund letters, confe...
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After 2 months of ongoing debate and negotiations, congress and President Trump signed a new stimulus bill which includes a second round of PPP loans. We at CFOshare took a peek at the PPP bill that passed congress December 21st, and here’s the details on what’s coming. Q3 2020 hedge fund letters, conferences and more Who can apply for PPP second draws?Fewer businesses will qualify for the second round of PPP funding. The following limitations will exist for any entity applying: Organizations must have experienced a 25% reduction in gross receipts for any quarter of 2020.When comparing against...
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REALITY CHECK: Treasury Officials’ PPP Op-Ed Packed With False and Misleading Claims Q3 2020 hedge fund letters, conferences and more Trump Treasury Official's Op-Ed Hails PPP As A SuccessWASHINGTON, D.C. – An op-ed in today’s Wall Street Journal from Trump Treasury officials Michael Faulkender and Stephen Miran that hails the SBA’s Paycheck Protection Program (PPP) as a “success” and calls for a clean reauthorization of the program is riddled with deceptive or downright false claims, an analysis from government watchdog Accountable.US found. Since its implementation, Accountable.US has docume...
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Senators’ Framework on Pandemic Relief Must Address Flaws in Paycheck Protection Program (PPP) to Get Aid in the Hands of Those Who Need ItQ3 2020 hedge fund letters, conferences and moreThe Flaws in PPP Must Be AddressedWASHINGTON, D.C. – This morning, after weeks of stagnancy and delays, a bipartisan group of senators introduced a framework to spend $900 billion to address the address the worsening health and economic effects of the coronavirus pandemic. One of the components of the new framework is $300 billion in funding to renew the Paycheck Protection Program (PPP).The purpose of the pro...
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*CNBC Transcript: Treasury Secretary [Steven Mnuchin](https://www.valuewalk.com/2020/11/mnuchin-defends-fed-lending-programs/) speaks with CNBC’s “Squawk on the Street” today, reacting to accusations about allowing lending program to expire being politically motivated\.*Q3 2020 hedge fund letters, conferences and moreMnuchin reacts to accusations that move to allow lending program to expire are politically motivatedMnuchin on lending programs about to expire: ‘We’re following the intent of Congress’JIM CRAMER: Treasury Secretary Steve Mnuchin joins us now. Mr. Secretary, thank you so much for ...
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The Trump Admin’s Attempt to Clean Up Its PPP PR Mess Is Too Little, Too LateQ3 2020 hedge fund letters, conferences and moreWASHINGTON, D.C. – Amid a barrage of news from the Trump administration last Friday afternoon, new reports showed that the Small Business Administration (SBA) began sending “'loan necessity' questionnaires” targeting companies and organizations that received Paycheck Protection Program (PPP) assistance of at least $2 million — an attempt to further examine loan recipients’ eligibility for the relief dollars in a program marred by widespread abuse, misuse, and fraud.The n...
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Office of the Inspector General Report Found Fraudsters Got $78 Billion in COVID Relief FundsQ3 2020 hedge fund letters, conferences and moreWASHINGTON, D.C. – Yesterday, the Small Business Administration’s (SBA) Office of the Inspector General released a report on the agency’s response to the pandemic through the Economic Injury Disaster Loan (EIDL) program. The findings were brutal, but not surprising: with minimal oversight, fraudsters and abusers ran away with billions in taxpayer-funded relief. In total, the report found that the SBA handed as much as $78 billion to potential fraudsters a...
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Seven Republican and Democratic Senators Co-Sponsor Restaurant Revitalization Fund Bill as Broader Stimulus Negotiations Push ForwardQ3 2020 hedge fund letters, conferences and moreNew Co-sponsors include Sens. Ernst (R-IA), Sullivan (R-AK), Hoeven (R-ND), Baldwin (D-WI), Blumenthal (D-CT), Smith (D-MN), and Whitehouse (D-RI)$120 Billion Restaurant Revitalization Fund Bill Now has Support of Bipartisan Coalition of 48 Senators; Included in HEROES 2.0Seven Bipartisan Senators Co-Sponsor The Restaurant Revitalization Fund BillWASHINGTON, D.C. — Yesterday, a coalition of seven bipartisan senators...
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Survey from Color Of Change and Main Street Alliance of 600 small business owners reveals disproportionate pandemic impact on Black businesses, flawed Paycheck Protection Program and devastating outcomes of continued Federal government inaction on COVID reliefQ3 2020 hedge fund letters, conferences and moreWatch the Press CallBlack-Owned Businesses Are Being Decimated By Insufficient Federal COVID ReliefNATIONWIDE — As critical federal COVID relief legislation remains stalled in negotiations between lawmakers and the White House,a new poll from Color Of Change and Main Street Alliance out toda...
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REPORT: Publicly Traded Companies Used PPP Money to Enrich Their Shareholders[activstinvesting]Q2 2020 hedge fund letters, conferences and moreAt Least Five Publicly Traded Companies Spent PPP Money On Dividends Or BuybacksWASHINGTON, D.C.– A new analysis from government watchdog Accountable.US and previewed by the Washington Post looked back at publicly traded companies that took SBA Paycheck Protection Program (PPP) loans — and found that at least five companies spent or had planned to spend roughly $5.9 million on dividends or stock buybacks after receiving their PPP money.Accountable.US ca...
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