SBA: 2.2 Million Loans, $175B Issued So Far in 2nd Round of Paycheck Protection Program

The Small Business Administration and the U.S. Treasury revealed Sunday that the second round of the Paycheck Protection Program has issued 2.2 million loans, totaling $175 billion.

PPP loans are forgivable loans for small businesses to offset some of the losses experienced by the response to the COVID-19 pandemic. The loans are meant to provide a direct incentive for small businesses to keep their workers on the payroll.

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Feds Sending $108 Million to Ohio Airports as Part of CARES Act

The federal government is sending more than $108.8 million to 97 airports in Ohio as part of a program to help them during the COVID-19 pandemic.

The money is part of the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act Airport Grant Program. In total, the feds are doling out $10 billion to airports nationwide.

“This $10 billion in emergency resources will help fund the continued operations of our nation’s airports during this crisis and save workers’ jobs,” U.S. Transportation Secretary Elaine L. Chao said in a news release.

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Commentary: The Good, the Bad, and the Ugly in the Coronavirus Stimulus

The House of Representatives on Friday passed the Senate’s $2 trillion coronavirus relief package and sent it to the president. What initially began as a bill designed to help the workers and families hurt by job loss or disruption caused by government measures to fight coronavirus morphed into an 880-page behemoth.

Here are the highlights: the good, the bad, and the ugly.

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