Wolters Kluwer Provides Insights on its Paycheck Protection Program Data; Poised for Round Two of Funding
WOLTERS KLUWER S/ADR (WTKWY)
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Source: Business Wire
First Round of PPP Loans Helped Retain Nearly 500,000 Jobs, with 80% of Loans for Main Street Businesses with Fewer Than 20 Employees NEW YORK--(BUSINESS WIRE)--Wolters Kluwer Compliance Solutions has announced that its Paycheck Protection Program (PPP) Supported by TSoftPlus™ solution, designed to help banks, credit unions, and other lenders support small businesses with payroll funding during the COVID-19 crisis, has so far assisted in PPP loan approvals supporting approximately 500,000 jobs across the U.S. The company will continue to provide its industry-recognized client support for the just-announced second round of PPP funding.To date, Wolters Kluwer data shows that in working with lenders during the first round of funding, the company helped small businesses in all 50 states obtain PPP funds. Notably, 80 percent of the loans it processed were for small businesses with 20 or fewer employees. The state with the highest loan volume was California.New users are able to access t
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