A new study shows how Americans are using their retirement savings to cover costs amid the COVID-19 pandemic. LOS ANGELES - Two months after the federal government rolled out the Paycheck Protection Program, small business owners that tapped the coronavirus aid can officially have their loans forgiven.
On Wednesday, the first round of loans distributed to small business owners hammered by the outbreak of the virus turned forgivable, a senior Small Business Administration official told FOX Business.
A few applications requesting the grant money be forgiven have already been submitted, the official said. Under the program, established at the end of March as part of the $2.2 trillion CARES Act, businesses with fewer than 500 workers can