ANNOUNCEMENT 24 Jun 2021In June 2021, the subchapter S corporation Pappas Restaurants Inc was granted loan forgiveness under the Paycheck Protection Programme (PPP) worth 10.1 million USD.
NUMBER OF INTERVENTIONS
U.S. Small Business Administration. Office of Capital Access. PPP FOIA. Data and Resources.
U.S. Small Business Administration. Programmes. First Draw PPP Loan.
U.S. Small Business Administration. Programmes. PPP loan forgiveness. https://www.sba.gov/funding-programs/loans/covid-19-relief-options/paycheck-protection-program/ppp-loan-forgiveness
According to the North American Industry Classification System, the company operates in the field of Full-Service Restaurants.
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 financial aid granted here is discriminatory.
Since the original PPP loan was forgiven, it is recorded in the Global Trade Alert database as a financial grant.