Mueller : Maximizing multiple COVID-19 relief programs – BizWest bizwest.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizwest.com Daily Mail and Mail on Sunday newspapers.
Last updated: May 18, 2021
Overview
On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act” (“Economic Aid Act”). The Economic Aid Act made available approximately $284.5 billion in new Paycheck Protection Program (“PPP”) funding and reopened the PPP for first- and second-draw loans on terms that are generally favorable to microbusinesses. The American Rescue Plan Act, which became law on March 11, allocates an additional $7.5 billion in funds to the PPP. The deadline to apply for a PPP loan under the American Rescue Plan Act was March 31, 2021. The PPP Extension Act of 2021, which became law on March 30, extends the PPP application deadline to May 31, 2021. The PPP Extension Act also provides an additional 30 days until June 30 for the SBA to finish processing applications received by the M
As President Biden extended the application deadline for the Paycheck Protection Program until May 31, many eligible small business owners completed their applications and have been waiting for approval.
Funding for the program, however, has reportedly run out just a few days into the month of May.
Loan agents such as Womply sent out mass emails to applicants Tuesday evening updating them on the news of the funding shortage and encouraging business owners to not give up.
Womply is hopeful that if small business owners across the country contact the President Biden, the Small Business Administration, and their U.S. senators, and representatives, that more funding will be provided by Congress.
As President Biden extended the application deadline for the Paycheck Protection Program until May 31, many eligible small business owners completed their applications and have been waiting for approval.
Funding for the program, however, has reportedly run out just a few days into the month of May.
Loan agents such as Womply sent out mass emails to applicants Tuesday evening updating them on the news of the funding shortage and encouraging business owners to not give up.
Womply is hopeful that if small business owners across the country contact the President Biden, the Small Business Administration, and their U.S. senators, and representatives, that more funding will be provided by Congress.
Comprobar sorteos de la Lotería y ONCE de hoy, sábado 8 de mayo de 2021 lasexta.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lasexta.com Daily Mail and Mail on Sunday newspapers.