Where PPP loan money comes from

More than 51 million U.S. workers can thank the Paycheck Protection Program for helping provide a portion of their wages during the coronavirus shutdown.

The $659 billion program, authorized under the CARES Act, let small businesses take out loans to stay afloat and keep workers on the payroll. Even better, some or all of the loan may be forgiven if the businesses meet certain requirements.

The process to get a PPP loan was pretty straightforward: Business owners went to their bank and applied for a loan to keep the doors open.

But behind the scenes, the lending process involved a few extra steps, according to Sahil Bloom, a financial educator and vice president at Altamont Capital Partners.

Check out this video to see the steps the government took to get money to businesses around the country.


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[getrektfn]

“Who clicked on the vid and came straight to comments?😅”

*(OMG MrBeast Commented On My Newest Video I’m Shaking)*

[barrettl]

Oh wow i get it now. so now its cool that the banks got 50 trillion and i got a rent payment

[mrpmj]

It's way better to have a stimulus than unemployment. We need to take care of today before we even think about tomorrow.

[mrpmj]

Who cares about debt. WWII debt hasn't been paid and never will be, and the country has been growing since.
The longer we wait, the cheaper that debt becomes due to inflation.

I bought Amazon, Apple, Nvidia, Zoom, Facebook, Microsoft, Google, Wells Fargo, Netflix