The Paycheck Protection Program, providing forgivable, federally backed loans to businesses to keep people employed - opened for applications today with a new round of funding - $310 billion.
That’s on top of $350 billion issued two weeks ago.
And that first round? Well, it had some issues, to say the least.
Some rather large companies got loans, and many small businesses just were shut out. Many of the hardest-hit states got some of the least aid.
So with this in the news (and so many businesses in deep trouble during this pandemic) I wanted to take a look behind the scenes up in Washington, D.C.
What happened? What have we learned? And, as this is one of multiple rounds of economic back-stopping, what’s next?
To do that, this episode of your Daily Detroit is my conversation with Congresswoman Haley Stephens. The Democrat represents Michigan’s 11th district, so think suburban cities like Troy, Auburn Hills, Rochester, Milford, Northville, Livonia, and Canton.
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