The Paycheck Protection Program is out of cash for most businesses weeks ahead of the program's scheduled May 31 closure, the Small Business Administration said Tuesday.
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Small businesses throughout the state, and the nation, make up the backbone of the economy. But during the pandemic, many were forced to close their doors while the rest struggle to survive.
Rich Kramer is like a lot of small business owners trying to stay afloat in the turbulent waters of the pandemic.
While such a move would increase workers' take-home pay now, there's a catch.
President Donald Trump has been pushing for a payroll tax cut, and he isn't waiting for Congress to enact one. On Saturday, he signed a series of executive orders, effectively going around Congress to extend expanded unemployment benefits and assist renters and homeowners.
The Small Business Administration is demanding at least one Planned Parenthood affiliate return a Paycheck Protection Program loan, alleging the affiliate wrongfully received funding because the overall organization is too large to qualify for the program.
The House Oversight Committee's new select coronavirus oversight panel sent letters to five different companies on Friday asking them to return loans they received from the Paycheck Protection Program set up during the pandemic to aid struggling small businesses.
Former Detroit Tigers pitcher Justin Verlander and his wife, actress, and model Kate Upton are donating to help coronavirus charities.
Businesses across Michigan will be able to apply for $349 billion in forgivable loans through the U.S. Small Business Administration that will help keep their employees.