Debt Collectors, Payday Lenders Collected Over $500 Million In Federal Pandemic Relief
Collection Industry News
JANUARY 19, 2021
Intended to support small businesses during the coronavirus pandemic, the program offered loans up to $10 million — and critically, the loans could be forgiven if companies used most of the money to cover payroll. The idea was to encourage companies to keep people employed. It received $1.5 million from the federal loan program.
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