“After days of tense debate, Senate lawmakers on Tuesday passed a bipartisan bill worth some $480 billion that would replenish funds for emergency small business lending programs and shore up national coronavirus testing as a stopgap ahead of another round of major relief legislation.”
This new addition to the stimulus package includes:
- $310 billion for the Paycheck Protection Program (PPP), $60 billion of which is dedicated to small businesses that have not yet established banking relationships
- $60 billion for the Economic Injury Disaster Loan (EIDL) fund, $50 billion of which will be loans and $10 billion of which will be in grants.
- The other $100 billion will provide additional support to healthcare providers and hospitals ($75 billion) and expanding coronavirus testing ($25 billion).
Read the full article here.
Continue to check the SBA Coronavirus Relief Options for funding opportunities and to apply for PPP and EIDL.”