IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 09 Apr 2021 | Removal date: open ended

State loan

On 9 April 2021, the U.S. Small Business Administration granted a Payment Protection Programme (PPP) loan worth USD 10 million to Urban Health Plan Inc, a corporation located in Bronx, NY with a term of 60 months. According to the North American Industry Classification System, the company operates in the field of All Other Miscellaneous Ambulatory Health Care Services.

The PPP is a programme introduced by the US federal government in response to the Covid-19 pandemic to provide liquidity of up to USD 10 million for affected businesses and help them keep their workforce. In this regard, the federal government provides unsecured loans of up to USD 10 million with terms ranging between 24 and 60 months. The scheme was open until 31 May 2021 and distributed 11.8 million loans worth USD 800 billion.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the loan granted here is discriminatory.

Since the original PPP loan was forgiven, it is recorded in the Global Trade Alert database as a financial grant.

AFFECTED COUNTRIES

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