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PPP loan forgiveness: How do the top lenders compare?
Loans are forgivable (they don’t need to be repaid) if a borrower meets certain requirements, such as using at least 60% of the loan for payroll costs. Given the average PPP loan amount is $59,000, forgiveness can be financially significant to a borrower.
Two programs totaling $52.5 billion to help make child care more available and safer.
As offices reopen and parents return to work, finding affordable child care can be difficult for low-income families. At the same time, early childcare providers are trying to stay open and provide safe environments for youngsters. Two programs included in the Child Care and Development Block Grant program received a total of $52.5 billion to assist families and early child care providers.
Internet access has been critical for remote learning. A $7.2 billion program is designed to help.
For families without home internet, schools and libraries with the internet have been lifelines for connecting students to their online classes. The Emergency Connectivity Fund, a new program created by the American Rescue Plan Act in March 2021, is providing a total of $7 billion to schools and libraries to pay for laptops, tablets, modems, Wi-fi hotspots, routers, and other broadband devices.
$450 million to provide health care to patients at home. Here are the details.
Health care providers have used telehealth, or telemedicine, during the pandemic to deliver care to patients in their homes. The $450 billion COVID-19 Telehealth Program funded telecommunications services, information services, and devices, such as computers, smartphones, or tablets, needed for connecting to home care.
Update: How much has each state spent on rental assistance?
Households struggling to pay rent or utility bills received relief from the December 2020 passage of the $25 billion Emergency Rental Assistance (ERA1) program. State and local governments began receiving ERA1 funding in January 2021. The American Rescue Plan Act added $21 billion more to the program (ERA2)
$6.4 billion in pandemic funding was received by foreign recipients. See the details.
In response to COVID-19, the federal government authorized an unprecedented $5 trillion in pandemic response spending. The majority of the prime recipients of this funding were located in the United States, however, prime recipients in 177 foreign countries received a total of $6.4 billion. These prime recipients were awarded approximately 4,000 federal contracts and 1,000 federal grants.
See how recipients are spending $150 billion from the coronavirus relief fund.
States, eligible local governments, Tribal governments, the District of Columbia and U.S. Territories who received funding from the $150 billion Coronavirus Relief Fund (CRF) must report on how they are spending the money.
Did disadvantaged individuals benefit from paycheck protection loans?
The Paycheck Protection Program (PPP) was a new Small Business Administration (SBA) loan program created by the CARES Act to help small businesses keep their workers on payroll. The program provided a total of $798.7 billion to 11.7 million businesses, keeping around 90 million jobs on payroll.
$3.2 billion to help low-income households access the internet. Here's how.
When the pandemic hit, broadband access became crucial for keeping Americans safe and connected. Households relied heavily on home internet for online school, work, and medical appointments. The sudden shift highlighted the glaring inequality in home internet availability to underserved communities.