according toSurging news Reported that Faraday Future( Faraday future) received US compensation guarantee plan (PPP)$9.16 million in cash assistance. According to one person familiar with the matter,
FF According to insiders, the money is the cash aid provided by the US government to local enterprises under the new crown epidemic, which requires the applicant to operate legally and in accordance with the law. The money is issued in the name of loan, but it is actually a special directional support subsidy, which can only be used to pay employees' wages, office rents and other expenses. If the money is used as required, it does not need to be repaid.
According to reports, the paycheck protection program launched in the United States during the outbreak was launched on April 3, aiming to help small businesses avoid layoffs during the outbreak, continue to pay wages and house rents for employees, with a total amount of 349 billion US dollars. Organizations eligible for the program include small businesses, non-profit organizations, veterans' organizations, self-employed households, etc. FF's assistance is close to the project's funding ceiling of $10 million.