Sullivan also repeatedly urged constituents to reach out to his local office for help working through federal relief programs.
Previously, the PPP recognized crew members as “self-employed” by the Internal Revenue Service. The previous requirements left crew wages out of the equation when applying for the loans.
Banks are processing Paycheck Protection Program applications again this week, racing to press their loans through the Small Business Administration before the fund is depleted for a second time.
The average loan amount was $190,000.
Demand is so high for Paycheck Protection loans and grants that some banks are calling a time out. Both First National Bank of Alaska and Northrim Bank say they’re already inundated and have suspended accepting new PPP applications. AlaskaUSA Federal Credit Union is limiting applications to members only. The bottleneck is becoming evident just as…
China is poised to surpass the United States this year as the world’s biggest economy, says an estimate released Wednesday by the World Bank’s International Comparison Program.