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Rocketing buy now, pay later stocks accepted US PPP loans

Vesna Poljak
Vesna PoljakCompanies editor

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The buy now, pay later stocks storming the ASX drew on America's small business lifeline, the Paycheck Protection Program, to obtain potentially forgivable loans targeted at struggling delis, salons and doctors to avert devastating job losses at the height of COVID-19, US Treasury disclosures reveal.

Sezzle, Splitit and Zip's QuadPay are among several Australian or US-Australian companies that joined Tito's Restaurant in San Antonio, Texas, and Gulf Coast Plumbing in Tampa, Florida, and hundreds of thousands of other businesses in accepting relief.

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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/rocketing-buy-now-pay-later-stocks-accepted-us-ppp-loans-20200709-p55afk