Small Business Stimulus Package Runs Out

Wpmi relief is on the way for small businesses here in alabama.

Small business stimulus package runs out. The 349 billion earmarked to help small businesses stay afloat during the coronavirus crisis ran out of money thursday less than two weeks after applications for the program opened. The federal stimulus package includes yet another round of paycheck protection program loans for those struggling to stay afloat. Small business stimulus program runs out of money after iowa gets 3 75 billion tyler jett and lee rood des moines register 4 16 2020 louisiana delays easing coronavirus restrictions.

While it s a sign that more than 1 6 million small businesses and some larger ones will eventually get desperately needed cash it s now officially a sign that more is needed. 350 billion small business stimulus loan program will run out of money today sarah hansen forbes staff. The stimulus law included 349 billion for the paycheck protection program which underwrites bank loans for small businesses that will never need to be repaid if owners use most of the money to.

For many small business owners that money was a temporary fix and has been exhausted. The 349 billion allocated to the paycheck protection program was part of the 2 trillion stimulus package signed into law by president donald trump on march 27. At least one in 10 small businesses in the u s.

Many are tightening the belt on finances. New york afp the administrator of a key us small business lending program to support companies devastated by coronavirus shutdowns said thursday it has run out of funds due to massive demand. Treasury secretary steven mnuchin.