Paycheck Protection Program

The Paycheck Protection Program developed under the March CARES Act has aimed to help keep small businesses afloat throughout the pandemic. However, with the proposed changes to who could apply for the PPP loans small businesses are now facing threats of being edged out. The relief bill expands eligibility for the loans to include large, affiliated nonprofits, labor unions, country clubs, fraternities, and sororities, and publicly-traded internet news organizations. It also extends PPP funds to violent criminals, including those guilty of assault on a police officer and nonconsensual sexual crimes, according to the memo from Rep. Jim Banks.