payroll protection program

The outcry over large companies receiving hundreds of millions in Payroll Protection Program loans originally meant for small businesses was prompted by news reports based on public filings those companies are required to make because the sell stock on public exchanges. But more than 99% of the companies getting the loans are privately held and do not have to disclose…

NBC 6’s Tony Pipitone reports.

Banks logging into the Small Business Administration loan website for round 2 of the payroll protection program found things had changed. No longer could they submit 15,000 applications at once for the first-come, first-served loans, which are forgiven if the affected business keeps paying workers for eight weeks. The new maximum for bulk applications is 5,000. The administration is also…

Small businesses appear to be getting a bigger chunk of the money in the new round of PPP.

Another $310 billion lifeline was thrown Friday to devastated small businesses, after the first attempt at the Payroll Protection Program quickly ran out of the $342 billion it was allotted.

Another lifeline thrown to devastated small businesses from Washington a some “big” businesses gobbled up hundreds of millions from the first batch of money. NBC 6’s Tony Pipitone reports.

After last week criticizing news reports that revealed huge corporations were benefiting from the $350 billion program, the senator who helped create it today conceded changes need to be made.

After last week criticizing news reports that revealed huge corporations were benefiting from the $350 billion program, the senator who helped create it today conceded changes need to be made. NBC 6’s Tony Pipitone reports.

Three-quarters of loans under the Payroll Protection Program went to the smallest of businesses, but those loans composed only 17% of the money loaned.

NBC 6’s Tony Pipitone reports on the loan allocation from the small business administration.