Monday, July 6, 2020

Southern California's Tech Firms Not Shy To Take PPP Loans

A very long list of Southern California's high tech companies are on the list of companies who have taken advantage of the Paycheck Protection Program (PPP) put into place by the United States, in an attempt to stem job losses from the ongoing pandemic. The data--released by the SBA this week--shows that among the companies receiving millions via the PP were Bird, DataDirect Networks, Edmunds.com, Faraday Future, GumGum, Karma Automotive, Neudesic, Sientra, SmartDrive Systems, Wpromote, Biolase, Callfire, Cinedigm, Hawke Media, HyreCar, Invoca, Jukin Media, MannKind, ModCloth, Nativo, and Overland Storage, among many, many others. The loans from the US government were approved as part of an effort to keep people employed despite a mandatory lock down in most of the United States in a bid to slow the spread of COVID-19.