Over the course of roughly four months during the first round of PPP, the program distributed about $525 billion in forgivable loans to 5.2 million companies, saving an estimated 50 million jobs.
Having allocated the full $20 billion that was appropriated by Congress, the Small Business Administration will discontinue making Economic Injury Disaster Loan advances to new applicants.
The Small Business Administration and Treasury Department have announced a program to bring more aid and money to small businesses during the coronavirus outbreak.
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