PPP Funds Replenished

FactorLaw previously reported on the trials and tribulations of small businesses trying to stay afloat by accessing (or not being able to access) funds from the Payroll Protection Program (PPP). We are pleased to note that this afternoon, President Trump signed a bill that provides an additional $484 billion for coronavirus relief, including $321 billion in additional funding to replenish the PPP, and $60 billion for small business disaster loans and grants (see https://www.npr.org/2020/04/22/838870536/read-whats-in-the-latest-coronavirus-relief-bill). The PPP was initially introduced with $349 billion in funding, which was disbursed quickly. For more information about the PPP, click here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program. And for more information about small business disaster loans and grants, click here: https://www.sba.gov/disaster-assistance/coronavirus-covid-19.

For More Information