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The $670 billion Paycheck Protection Program (PPP) is the signature small business provision of the federal government's CARES Act, which was passed into law on March 21 in response to the COVID-19 pandemic.
The PPP is designed to keep employees on company payrolls — and off unemployment insurance — for an eight-week period that ends on June 30. A key feature of the program is that it has a pathway for forgiveness, which effectively turns the loan into a grants for companies that retain or re-hire their workers.
See the rest of the story at Business Insider
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