Updated: May 10, 2020
Over the past few weeks, small business owners have raced to the banks to take advantage of the forgivable loans offered through the Paycheck Protection Program (PPP) initiated by CARES Act. As of April 16, 2020, the federal program announced it has run out of funds. CBS News reported the announcement.
Read more here: https://www.cbsnews.com/news/paycheck-protection-program-out-of-money-small-businesses-shut-out/