Stimulus Money For Small Businesses

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.

Stimulus money for small businesses. Corbis via getty images congress provided a lot of economic stimulus money in recent legislation but each small business has to choose which program will provide it the most support. Fortunately it contains some help for small business owners. The largest stimulus in u s.

A new round of paycheck protection program ppp loans more permissive rules on deducting expenses that were paid with ppp loan funds. Congress took its time and president donald trump held it up but a new stimulus package was finally signed into law on sunday night. Aid for local governments and corporate.

Demand for the popular paycheck protection program ppp has been massive since the application window opened on april 3. House of representatives passed the bill two days later by a vote of 388 5 with one abstention. Here s what s in the 900 billion stimulus package jobless benefits aid to small businesses stimulus checks and money for vaccine distribution are in.

Small businesses around the country got a 370 billion lifeline in the 2 trillion coronavirus aid bill approved friday by the u s. It s a giant last minute bill some 5 593 pdf pages long but fortunately you don t have to read the whole thing. The second 900 million covid 19 relief package still awaiting final sign off includes three changes to the paycheck protection program which will help small businesses a segment of the economy that is taking the brunt of the financial effects of the pandemic.

The bulk of the money 322 billion will be used to replenish the paycheck protection program ppp for small businesses created last month by the cares act stimulus law. The senate passed the bill via unanimous consent on april 21 and the u s.