Small Business

U.S. Senators Send Letter in Endorsing Expanding PPP Eligibility A bipartisan group of U.S. Senators sent a letter to Republican Leader Mitch McConnell (R-KY), Minority Leader Chuck Schumer (D-NY) , Senator Marco Rubio (R-FL), and Senator Ben Cardin (D-MD), urging consideration of 501(c)(6) organizations to be eligible for the Paycheck Protection Program (PPP). The PPP,…

President Trump Signs Latest COVID19 Relief into Law President Trump signed H.R. 266, the Paycheck Protection Program and Healthcare Enhancement Act, into law. The $484 billion relief bill includes funding for the Paycheck Protection Program (PPP),  Economic Injury Disaster Loan (EIDL) Program, hospitals, and testing. The $350 billion PPP established under the Coronavirus Aid, Relief,…

SBA Administrator and Treasury Secretary Joint Statement on PPP Today, President Trump signed into law H.R. 266, the Paycheck Protection Program and Healthcare Enhancement Act. The bill provides an additional $321 billion for the Paycheck Protection Program (PPP). The U.S. Small Business Administration (SBA) and U.S. Department of Treasury have been working together to provide…

Updated Paycheck Protection Program FAQ Sheet The Trump Administration continues to update and provide additional information and resources with regard to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Administration has produced an updated Paycheck Protection Program FAQ Sheet: The Small Business Administration (SBA), in consultation with the Department of the Treasury, intends…

U.S. House Small Business Committee Hearing on Coronavirus Economic Relief This morning, the U.S. House of Representatives Committee on Small Business convened for a hearing titled, “Member Day Hearing on COVID-19 Response and Recovery: Committee on Small Business.” Members of Congress testified before the committee on their feedback, concerns, and priorities regarding the Paycheck Protection Program (PPP)…

Axios Discussion on Economic Impact of COVID19 on Small Businesses The COVID19 global pandemic has impacted Americans lives in every way, as the country begins to grow accustomed to a new normal. Axios held a virtual panel, “Helping Small Businesses Weather the Coronavirus Storm,” focusing on the economic impact of COVID19 on small businesses. Speakers on…

SBA Paycheck Protection Program Report The Paycheck Protection Program was established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The program is implemented by the Small Business Administration with support from the Department of the Treasury. This program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits,  interest…

U.S. Senate Passes Additional Funding for PPP The U.S. Senate passed an interim Coronavirus emergency package by voice vote. The package includes additional funding for the Paycheck Protection Program (PPP), Economic Injury Disaster Loans (EIDLs), hospitals, and testing. The bipartisan agreement comes days after negotiations and a week after the PPP ran out of its…

Statement from Secretary Steven T. Mnuchin and Administrator Jovita Carranza on the Success of the Paycheck Protection Program Per the U.S. Small Business Administration:   Today, U.S. Small Business Administration Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement regarding the success of the Paycheck Protection Program (PPP): “The Treasury…

Lawmakers Submit Letters Regarding EIDL and PPP Programs A bipartisan group of lawmakers submitted a letter to U.S. Small Business Administration (SBA) Administrator Jovita Carranza seeking “information and guidance from the SBA regarding Economic Injury Disaster Loans (EIDLs), how your agency is meeting the challenges facing this program, and how Congress can assist the SBA.”…