According to a news release from the Alabama Bankers Association this afternoon, a total of 19,244 loans valued at $3.8 billion have been made to Alabama businesses through the Small Business Administration’s Paycheck Protection Program since the program was funded about two weeks ago. Nationwide, more than one million loans have been awarded to small businesses across the country, totaling nearly $248 billion.
As part of the CARES Act signed into law on March 27, the Paycheck Protection Program provides assistance to many small businesses desperate for help as a result of the pandemic. The CARES Act provided $349 billion for the program, and lawmakers are currently considering whether to fund it with an additional $250 billion.
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.