No. of Recommendations: 1
OMG. The Trump Administration found MAJOR FRAUD in programs THEY control, Newsom's Press Office's X account posted, linking to a New York Post exclusive on the announcement.
From the net sifter:
SBA small business loans specifically tailored for the COVID-19 pandemic began in late March and early April 2020.
The main programs and their start dates were:
Paycheck Protection Program (PPP): Applications for the PPP, which provided forgivable loans for payroll and operating expenses, were released on March 31, 2020. Banks and credit unions began accepting these applications as early as April 3, 2020.
COVID-19 Economic Injury Disaster Loan (EIDL): The SBA started accepting applications for the revised EIDL program—which provided low-interest, long-term loans for working capital—in mid-March 2020, shortly after the President declared a national emergency.
EIDL Advance (Grants): The CARES Act authorized $10 billion for emergency EIDL advances (grants), with applications becoming available immediately following the signing of the Act on March 27, 2020.
The initial round of $349 billion for the PPP was fully allocated between April 3 and April 16, 2020, at which point the SBA stopped accepting applications until further funding was approved.
