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Almost a year ago to the day, the Small Business Administration opened the first round of the Paycheck Protection Program, known as the PPP.
The forgivable loan program was designed to encourage employers to keep their employees despite the pandemic shutdown, with loan amounts based on a business’ monthly payroll figures. In just under two weeks, the $350 billion program was depleted of funds.
“My CPA joked that the first round of PPP was like building an airplane while it’s flying in the air without a parachute, hoping you will land in a soft spot,” says Jamaica House owner Carena Ives.
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Alabama
Montgomery: Hospitals support an extension of a statewide face mask order, at least until more people become vaccinated against COVID-19, the head of the Alabama Hospital Association said Monday. Gov. Kay Ivey is expected to announce this week whether she will extend the face covering mandate and other health orders that are set to expire Friday. A spokeswoman for the governor expressed optimism about state coronavirus numbers. “All along, Gov. Ivey has made clear that she prefers personal responsibility to government mandates. We are optimistic that our state is heading in the right direction, and we still have some work to be done,” Gina Maiola said Monday. Alabama, like much of the nation, has seen a significant drop in daily COVID-19 cases, but medical officials cautioned that the virus has not gone away, and uncertainty remains about the impact of emerging variants and upcoming events like spring break gatherings. “It just