Stimulus Check Loan For Small Business

Fortunately it contains some help for small business owners.

Stimulus check loan for small business. Congress took its time and president donald trump held it up but a new stimulus package was finally signed into law on sunday night. The other good news is that the new bill offers a second ppp loan for companies with fewer than 300 employees who suffered a 25 drop in any quarter s revenue from 2019 to 2020. Food service and accommodation.

And laundry and personal care services. Demand for the popular paycheck protection program ppp has been massive since the application window opened on april 3. In march congress passed the 2 trillion dollar coronavirus aid relief and economic security cares act a stimulus package that includes several programs aimed at small businesses impacted by the covid 19 outbreak.

The stimulus bill extends this loan payment subsidy to up to 14 monthly payments for various types of businesses that have been hard hit by the pandemic including. Signed into law by president trump on friday the package authorizes the small business administration to offer 100 guarantees for up to 349 billion in loans for small businesses that need to.