PayPal and Intuit Can Make Emergency Small-Business Coronavirus Loans
MSN | Outlook, Office, Skype, Bing, Breaking News, and Latest ... | April 13, 2020
The CARES Act created a $350 billion program to make emergency loans to small businesses impacted by the coronavirus crisis, designed to help these companies continue to pay workers and cover their rent or mortgage payments. This is officially known as the Paycheck Protection Program, or PPP. Since the program's introduction, major banks and regional financial institutions have approved billions' worth of these loans. However, the major fintech companies had been left on the sidelines. Now, that appears to be changing.