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Added on the 16/03/2019 15:15:19 - Copyright : Wochit
The US Federal government's Paycheck Protection Program, or PPP, doled out hundreds of billions of dollars to businesses. The PPP's goal was to assist businesses during the nearly inevitable slowdowns due to the coronavirus pandemic. But according to Business Insider, many minority-owned businesses were left waiting for funds until the final weeks of the program. Many of our businesses were being turned down in the first and second round of funding. That caused application fatigue and frustration. Ron Busby President, US Black Chambers The Center For Responsible Lending says minority-owned businesses support 8.7 million jobs with an annual total payroll of $280 billion.
$600 stimulus checks may be direct deposited as early as Tuesday night. This news comes from US Treasury Secretary Steven Mnuchin, says Business Insider. The $600 is part of the $900 billion coronavirus relief package signed by President Trump. However, the checks were deemed meager by most Democrats and the president himself. The money will hopefully provide a needed boost to the economy slammed by the pandemic. The checks may also prove not to be the last round of economic assistance.