Second Stimulus Package Small Business

The bill overwhelmingly passed by the house yesterday seeks to replenish funds earmarked for small businesses after the original 350 billion in relief was exhausted less than two weeks after the program.

Second stimulus package small business. On the heels of a depleted 2 2 trillion stimulus package that included 350 billion in relief for small businesses lawmakers have approved a second 484 billion dollar stimulus package. What you should do immediately to take advantage of these programs. Businesses that already got a paycheck protection program ppp loan will likely have access to more funds and some might be eligible for another loan.

Small businesses were already planning to apply for the second draw of the paycheck protection program after president donald trump signed the 900 billion coronavirus relief package along with. A second coronavirus stimulus package passed on december 21 and it isn t quite as generous as the first. The agreement sets aside 285 billion for additional loans to small businesses under.

A second paycheck protection program ppp loan will be made available. Keep in mind that this. Businesses will have to use up their initial ppp loan and have a loss of revenue in 2020 to be eligible to apply.

Below are details of small business provisions of the new stimulus package and as importantly.