Paycheck Protection Program Lending Extended Into August

The video discusses the extension of the Paycheck Protection Program (PPP) lending for small businesses during the pandemic, highlighting bipartisan support for the measure. It also addresses frustrations over delayed data release by the Treasury and SBA. The PPP, a key part of the CARES Act, has distributed over $520 billion, with $150 billion still available. The average loan size is $107,000.

What was the main purpose of extending the Paycheck Protection Program?

• To increase taxes on small businesses

• To provide loans to large corporations

• To reduce government spending

• To support small businesses during the pandemic

What was the reaction of lawmakers to the missed deadline for data release by the Treasury and SBA?

• They were pleased with the progress

• They were indifferent

• They were frustrated

• They decided to cancel the program

When was the Paycheck Protection Program created?

• In January as part of the CARES Act

• In March as part of the CARES Act

• In June as part of the CARES Act

• In December as part of the CARES Act

How much funding has the PPP already distributed to small businesses?

• Over $100 billion

• Over $250 billion

• Over $520 billion

• Over $750 billion

What is the average loan size provided by the PPP?

• $200,000

• $50,000

• $500,000

• $107,000