Tag Archive: small business

New Stimulus Bill Replenishes Small Business Loan Programs

April 25, 2020 1:35 pm Published by

On April 24, the President signed the Paycheck Protection Program and Health Care Enhancement Act (the “Act”) into law. Among other things, the Act allocates over $300 billion to replenish the Paycheck Protection Program (“PPP”), including $60 billion specifically set aside for loans made by community-based banks and smaller lenders. The Act also increases Economic Injury Disaster Loan (“EIDL”) program appropriations by $50 billion, and EIDL grant program funds by $10 billion.

Senate and White House Reach Deal on Stimulus Package

March 25, 2020 1:32 pm Published by

Early on March 25, 2020, after days of negotiations, the U.S. Senate and the White House announced a deal on a nearly $2 trillion stimulus package to provide relief during the coronavirus crisis. The text of the proposal still needs to be completed, but it is expected to be the largest stimulus package in U.S. history.