$370 billion to replenish SBA’s Paycheck Protection Program and the Economic Injury Disaster Loan Program
Congress moved quickly to pass legislation
that appropriates an additional $484 million to continue to finance the Small
Business Administration’s (SBA) Paycheck Protection Program (PPP) and the
Economic Injury Disaster Loan Program (EIDL), along with several other
initiatives aimed to mitigate the economic hardships caused by Covid-19.
Following the Senate’s approval Tuesday, the House passed the bill last night and President Trump is expected to sign it into law today.
The new legislation provides an additional $310
billion in new funding for the PPP and $60 billion for the EIDL. It also allocates $75 billion for hospitals
and health care providers, and $25 billion for the development and expansion of
The $310 billion for the PPP includes $30
billion reserved for community-based lenders, small banks and credit unions and
$30 billion reserved for mid-sized banks and credit unions.
As we are learning to navigate through these times of
uncertainty and adjusting to our new normal, we here are at The Foresight Companies want to be your go-to source for all topics related to your
Please visit our COVID-19 new Business
Operations Resource Center frequently
as we continue to update as changes are occurring.
If you have any questions or concerns please
do not hesitate to pick up the phone and give one of us a call at 1-800-426-0165.
*Please note that as information is updated and modified, terms and
conditions are subject to change.