Deal Reached to Replenish Small Biz Loan Program
The White House and Congress have reached a deal for additional funding to replenish the exhausted small business loan program. Since the program launched, small businesses have feverishly applied for the SBA and Paycheck Protection Program (PPP) loans.
The details of the package are forthcoming. However, it’s anticipated to include up to $310 billion for the PPP loans, including setting aside billions for smaller lenders. According to lawmakers, funding will also include an additional $25 billion for COVID-19 testing and $75 billion for hospitals.
President Trump has urged the House and Senate to pass the legislation on these packages in a separate tweets earlier today. Be sure to visit Fingercheck for the latest on the small business loan program and all other news regarding the COVID-19 outbreak.