May 06, 2020
President Trump’s Paycheck Protection Program is Tremendously Popular Among Small Businesses
A majority of small businesses are able to keep employees on their payrolls in the midst of this global coronavirus pandemic thanks to President Trump’s Paycheck Protection Program (PPP), according to a new survey. The program is so popular that 77% of small businesses have successfully applied for a PPP loan.
The second round of the program processed nearly $50 billion in loans in the first 24 hours!
More loans for small businesses are being approved every day, helping American workers receive a paycheck in spite of the artificial interruption in our economy.
- After 40 years in business, Outpost Sports in Indiana was forced to close due to the coronavirus and let its employees go. But thanks to a PPP loan, they are back in business and 10 Americans have their paychecks back.
- CFS Roofing in Florida was able to rehire staff and guarantee paychecks for 200 hardworking Americans.
- Bitty & Beau’s Coffee, a coffee shop which employs Americans with intellectual and developmental disabilities, was able to continue paying 120 Americans.
- The Peoria Charter Company was able to bring back nearly all of their 120 employees.
Nancy Pelosi’s ploy to block more funding for small businesses and American workers aside, President Trump’s Paycheck Protection Program has been a massive success.
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