PPP Paycheck Protection Program
The PPP authorized up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. The loan amounts will be forgiven as long as:
Related Data - Unemployment Stats: In February, the unemployment rate was at a historic low of 3.5%. The U.S. economy lost a staggering 20.5 million jobs in April, pushing the unemployment rate to 14.7% according to data released by the U.S. Bureau of Labor Statistics. Among the hardest hit sectors were the leisure and hospitality industries -- which shed some 7.7 million jobs -- though employment fell sharply across all major industries. Other notable job losses occurred in food and drinking service sectors (which lost 5.5 million jobs), education and health services (which lost 2.5 million jobs) and retail employment (which lost 2.1 million jobs).
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AuthorKim Kellly, EA is a professional serving business owners and personal tax filers around the world since 1993. She is based in San Diego California. Archives
January 2021
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