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The 900 billion stimulus bill that s headed to president trump s desk includes about 284 billion in additional funding for the paycheck protection program which offered small employers.
Next stimulus bill for small business. The 900 billion covid 19 stimulus bill of december 2020 improves the paycheck protection program ppp2. The second stimulus bill the economic aid to hard hit small businesses nonprofits and venues act has been passed by congress and signed into law by president trump while you may be hopeful that it will help your small business you probably are also glazing over the fine print unsure of whether you ll actually be able to take advantage of any of the new relief. 82 billion in funding for k 12 schools and colleges as well as 10 billion in funding for child care providers.
Stakes are high whether you went through this process earlier in the year and or missed out the first round. On april 24 congress passed legislation to replenish funds for small business loan programs. Relief is on the way and.
Congress at last passed a second stimulus bill this week as of this writing it is still awaiting president trump s signature and it includes a second round of ppp loans for affected small. These are some additional measures in the second covid 19 stimulus package that are tangential to small business. What the new stimulus bill means for small business january 4 2021 2 10 pm miller and company founder paul miller joined yahoo finance live to break down the new stimulus bill means for small.
The newest legislaition will allocate another 310 billion to the ppp and an additional 10 billion to the economic injury disaster loan eidl grant program. The law has created two set asides 15 billion for initial ppp loans and 25 billion for second ppp loans for small business borrowers with 10 or fewer employees and businesses located in low to moderate income lmi areas for loans up to 250 000. Other provisions in the new covid 19 stimulus bill.
Provides tax deductions and other relief.
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