Latest in Paycheck Protection Program

The Los Angeles Times received a Paycheck Protection Program loan for $10 million as advertising plunged due to the Covid-19 pandemic. The Times reported that the loan will cover employee salaries and other costs. “We lost tens of millions of dollars in advertising revenue pretty much instantly in March 2020, and the…

UPDATED: Hollywood talent agencies, law firms and production companies were among the recipients of loans under the Paycheck Protection Program, the massive program put in place by Congress to try to carry businesses and their employees through the COVID-19 crisis. Among the recipients of seven-figure loans were…

The Washington Post, The New York Times, Pro Publica, Dow Jones & Co. and Bloomberg LP filed a lawsuit against the Small Business Administration on Tuesday, seeking the identities of private businesses that have received public assistance through key coronavirus relief programs. The SBA says that it will release…

Axios, the digital news brand whose backers include Jeffrey Katzenberg’s WndrCo and Greycroft Partners, is returning a $4.8 million loan it secured as part of the troubled Paycheck Protection Program. In a blog post, founder Jim VandeHei said the decision was made to give back the funds because “the program has become…

The House on Tuesday overwhelming passed legislation on Thursday that will inject hundreds of billions more into a small business loan program. The vote was 388 to 5 on the legislation, with a total price tag of $484 billion. The Senate passed the bill earlier this week, and President Donald Trump is expected to sign…