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Congress Passes Another Round of Coronavirus Relief for Small Businesses

April 24, 2020On April 24, 2020, President Trump signed into law another round of coronavirus relief aimed at helping small businesses during this public health emergency. The bill contains a total of $484 billion in additional aid. The majority of funds in this bill are dedicated to replenishing the Paycheck Protection Program (“PPP”), which gives small businesses loans to cover payroll costs that could be forgiven if specific requirements are followed. Congress initially funded the PPP in March with $350 billion, but this amount was exhausted as of April 16, 2020. Posted by Kevin Cripe