Democratic lawmakers are also exploring ways for businesses to apply for second Paycheck Protection Program loans.
With the $670 billion Paycheck Protection Program thrust into the spotlight again on the heels of May’s better-than-expected jobs report, Treasury Secretary Steven Mnuchin acknowledged the need for more targeted relief spending in his testimony with Small Business Administrator Jovita Carranza before Senate lawmakers on Wednesday....
The PPP is being viewed as a major factor in the economy’s recovery especially after May’s surprising job gains . Treasury Secretary Steven Mnuchin said that moving forward, the SBA will relax restrictions on PPP loans for borrowers with criminal records by reducing the time they would be barred from applying after a conviction from five years to three years.
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