What is a PPP loan? The Paycheck Protection Plan is an unsecured, short-term loan program designed by the United States Federal government in 2021 to assist Americans who are adversely affected by a pay cut. The plan offers those Americans who have lost their jobs with experienced or non-experienced workers who have exhausted their payroll protection the means to restore their depleted income. A PPP loan is a loan that is repaid based on two main factors - the employment history of the borrower and the interest rate that is being applied to the loan. With these two major factors considered, the loan will be more affordable to those borrowers that are in need of additional funds. The repayment schedule is flexible and allows borrowers the opportunity to repay the loan according to their individual financial needs. What is PPP loan insurance? According to the United States Congress, all PPP loans must be insured by FSA (Federal Deposit Insurance Corporation) or some other similar guarant...
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