Additional Funding on the Horizon for the Paycheck Protection Program

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Sat, May 2, 2020
2020-05-02T00:00:00-04:00
2020-05-03T00:00:00-04:00
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Additional Funding on the Horizon for the Paycheck Protection Program
A second stimulus package has passed the Senate. This package is expected to pass the House on Thursday (today) and be signed by President Trump. This bill would provide an additional $310 billion for the Paycheck Protection Program with $60 billion of that money reserved for smaller businesses without existing banking relationships.
Also an additional $60 billion ($50 billion in loans and $10 billion in grants) would be designated for the Economic Injury Disaster Loan (EIDL) fund, administered by the Small Business Administration.
Small Businesses can review guidelines for the two programs and prepare information to apply when the bill is passed