The bill was passed by unanimous consent in the Senate on Wednesday, with many lawmakers on recess until May, and the House passed the legislation yesterday by a vote of 388-5.
Ruth's, which operates Ruth's Chris, was among the first publicly traded restaurant companies to publicly report receiving a PPP loan, which generated an outcry as the initial $349 billion allocation to the program ran dry. That would make Ashford the country's largest known beneficiary of the small business rescue fund if it were to receive all the loan money for which it has applied. Bowing to public pressure, other companies announced they meant to return their loan.
The SBA and Treasury also clarified Friday that hedge funds and private-equity firms are ineligible to participate in the program, potentially quelling a barrage of outrage over the possibility that well-heeled traders might beat out struggling small businesses for relief aid.
The program had gone through several tweaks, mostly because of casinos and other gambling businesses protesting against the nature of the relief financial package, which precluded companies with at least one-third of their revenue owing to gambling.
Restaurant operator Meritage Hospitality Group received $29 million, J. Alexander's got $15 million and Potbelly Sandwich Shop and Pollo Tropical owner Fiesta Restaurant Group received $10 million apiece.
Germany flips to Apple-Google approach on smartphone contact tracing
These people can then be asked by the health authorities to take appropriate security measures, e.g. As per an Apple representative, the company now releases a FAQ section which is related to the app.
Lockport city council approves Small Business COVID-19 Grant and/or Loan Program
You see the loan report here and the advances here. "The next round of funds must be focused on small businesses, with better oversight and transparency".
Planning to Stay Awake for Wednesday Night’s Lyrid Meteor Shower? Don’t Bother
Astronomy fans may be looking to the skies the next couple of nights because the Lyrids meteor shower is set to hit its peak . Following this, in May we can expect to see The Eta Aruirids meteor shower, arguably the most famous of all.
"Allowing access to these funds will help ensure our rural communities can continue to receive care without having to drive sometimes hours to the next-nearest hospital".
Separately, Rep. Tom Cole, R-Moore, said he had been reassured that tribal nations would be eligible for this round of PPP funding.
However, writes the outlet, the nonprofits connected with billionaire donors are also reportedly applying for their share of hundreds of thousands of dollars in loans that can be fully forgiven if recipients use them to avoid laying off workers. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster.
Pritzker on Saturday said those critics don't understand how income taxes work.
The U.S. government will cap how much each bank can lend under the emergency loan program created to keep workers on payrolls amid the coronavirus pandemic, according to a memo seen by Reuters hours ahead of the reopening of the lending program.