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Coronavirus Aid, Relief, and Economic Security (CARES) Act

U.S. pandemic aid program saved 51.1 million jobs, but wealthy and connected also benefited

U.S. pandemic aid program saved 51.1 million jobs, but wealthy and connected also benefited

By: Michelle Price, David Lawder, Lawrence Delevingne
Source: Reuters
Date of Publication: July 6th, 2020
A high-profile pandemic aid program protected about 51.1 million American jobs, the Trump administration said on Monday, as it revealed how $521.4 billion in taxpayer cash was injected into small businesses but also into the pockets of the rich and famous.
Here is everything that goes away when coronavirus benefits end in July

Here is everything that goes away when coronavirus benefits end in July

By: Katie Connor
Source: CNET
Date of Publication: June 29th, 2020
The CARES Act benefits that helped many Americans with economic hardships are set to expire within weeks.
PPP recipients can apply early for loan forgiveness, SBA says

PPP recipients can apply early for loan forgiveness, SBA says

By: Jeff Drew
Source: Journal of Accountancy
Date of Publication: June 23rd, 2020
New Paycheck Protection Program (PPP) guidance released Monday night declares that PPP recipients can apply for loan forgiveness early but that doing so could cost them money.
Small businesses expect to fail. Here’s what will happen to their PPP loans.

Small businesses expect to fail. Here’s what will happen to their PPP loans.

By: Greg Iacurci
Source: CNBC
Date of Publication: June 24th, 2020
Small businesses have received nearly $630 billion in combined funding through the Paycheck Protection Program and the Economic Injury Disaster Loan program. Nearly a quarter of small businesses are considering closing permanently due to Covid-19, one survey found. All PPP loans and EIDL loans of less than $25,000 have terms that are relatively favorable to borrowers if they need to close.
United to Put Up Frequent-Flier Program for $5 Billion Loan_WSJ

United to Put Up Frequent-Flier Program for $5 Billion Loan

By: Alison Sider
Source: The Wall Street Journal
Date of Publication: June 15th, 2020
United expects to have $17 billion in liquidity by the end of the third quarter as it grapples with the impact of the coronavirus pandemic.
Navient statement on supporting federal and private student loan borrowers nationwide during COVID-19 pandemic _ Navient Corporation

Navient Statement on Supporting Federal and Private Student Loan Borrowers Nationwide During COVID-19 Pandemic

By: Navient
Source: Navient
Date of Publication: April 24th, 2020
Our mission at Navient is to support our student loan borrowers, regardless of where they live or go to college. We have a long history of assisting borrowers, including during times of crisis, with innovative programs and solutions. Today, we are using that experience to address the needs of those impacted by the COVID-19 crisis, whether they need assistance due to a health emergency, job loss or other economic impact. Our programs and solutions are available to all borrowers wherever they reside.
Southwest Air Chairman Gary Kelly joins FTN

Southwest Air Chairman Gary Kelly joins FTN

By: CBS News
Source: Youtube
Date of Publication: May 3rd, 2020
Southwest Airlines CEO Gary Kelly on FTN discussing the effects of travel shutdown on his airline.