More Recovery Disaster Funds Could be here soon for Businesses
Additional round of funding could be available this week for Businesses impacted by Covid-19.
Among the items being voted on, there appears to be emergency funding for businesses and front line healthcare responding to the pandemic:
- $300B – Payment Protection Program
- $50B – EIDL Economic Injury Disaster Loan
- $25B – Testing
- $75B – Hospitals
Congress and the President are expected to finalize the deal this week and funds should be available shortly thereafter.
Speak with your SBA banking advisor soon to start the application process and make sure to take advantage of planning opportunities for the Payment Protection Program (loan forgiveness) and Economic Injury Disaster Loan ($10k grant). Visit the following links for additional information.
-Michael Arrache, CPA, EA