Several NASCAR teams, tracks, and industry organizations have been approved for the Paycheck Protection Program set forth by the federal government in the Coronavirus Aid Relief and Economic Security (CARES) Act.
Several NASCAR teams, tracks, and industry organizations have been approved for the Paycheck Protection Program set forth by the federal government in the Coronavirus Aid Relief and Economic Security (CARES) Act.
The loans range from 150,000 to 5 million dollars.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks, and the money is used for payroll, rent, mortgage interest, or utilities.
The list of organizations that received the loans:
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