Small Business Loan Program Is Officially Out Of Money. Lawmakers Can’t Agree On What Happens Next.
Article Excerpt: "... Under the Paycheck Protection Program, companies and nonprofits with fewer than 500 workers can apply for loans of up to $10 million at 1% interest to so they can cover two months of payroll and overhead expenses. If the borrower retains workers and doesn’t cut their wages, the government will forgive most or all of the loan and repay the bank lenders..."
Reference: www.forbes.com
