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The first coronavirus relief package helped many small businesses earlier this year with payroll protection and disaster relief loans but the next bill could help businesses even more.
Small business help new stimulus package. If you run a minority owned business please pay attention. Wbrc another economic stimulus bill is in the works meaning potential financial relief to many. The new stimulus package contains several provisions giving aid to minority owned businesses.
For small businesses the new covid 19 assistance package includes a new round of paycheck protection program ppp funding. Inside the latest 908 billion aid package for small business it offers 348 billion in new funding but also a resumption of ppp and new covid 19 liability protections. The paycheck protection program which is part of the 2 trillion stimulus package passed by congressional lawmakers provides 350 billion in low interest loans for businesses of 500 or fewer.
Small business highlights from the economic stimulus aid package 2020 update. Monday december 28 2020 on sunday night president trump signed legislation for 900 billion in coronavirus economic aid and 1 4 trillion in government spending and preventing a government shutdown. Congress took its time and president donald trump held it up but a new stimulus package was finally signed into law on sunday night.
How new stimulus package can help minority businesses. We are currently working on reviewing the legislation and updating our streamlined online application process. New relief package provides next round of ppp funding for small businesses 5 ways the new stimulus bill may help your small business the application won t be more than one page and should be.
The small business administration under the stimulus package will oversee the paycheck protection program which will distribute 350 billion to small businesses that can be partially forgiven. If your small business has been struggling because of the covid 19 pandemic here are some important ways the new relief package passed by congress may help.
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