CoronavirusPolitics & Money

Construction sector wins big in mosh-pit scramble for PPP

Builders got $64.6 billion of loans, distributed to 466,221 businesses, SBA says

Construction companies were among the biggest recipients of funds from the Paycheck Protection Program aimed at helping small businesses during the COVID-19 pandemic.

The top three sectors receiving the funds were: Health care, including dentist offices and home-care companies, which got 12.9% of the loans, professional services, including accounting businesses and advertising companies, with 12.7% of the funds, and construction firms, which got 12.4% of the money, according to a report from the Small Business Administration last week.

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UWM announces 1.99% rate for 30-year fixed mortgage

United Wholesale Mortgage announced Tuesday it is rolling out a new loan program that offers borrowers an interest rate as low as 1.99% for both purchase mortgages and refinances.

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3d rendering of a row of luxury townhouses along a street

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