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The deal will expand Ready Capital’s presence in USDA lending through programs that support guaranteed loans for small businesses and energy projects in rural areas.
Many sellers are ditching the loans to avoid the cumbersome forgiveness process. For others, the Paycheck Protection Program was never a strategic fit.
Many firms pushed ahead, benefiting from the $669 billion Paycheck Protection Program run by the Small Business Administration and Treasury Department,
July 2, 2020
The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.