NEW YORK: Free money. That’s the enticing prospect hedge funds and other trading firms are pondering after realising they too might be able to participate in a historic United States stimulus package to keep small businesses alive through the coronavirus pandemic.
Since early April, law firms have hosted Webinars and sent out alerts, and accounting firms have reached out to clients, all with the goal of explaining how they might be able to tap into the Paycheck Protection Programme. The US$349bil package administered by the Small Business Administration provides loans to cover payroll, rent and utilities for up to eight weeks.
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