Congressional leaders debate over details of a new PPP

Congressional leaders debate over details of a new PPP

Congressional leaders debate over details of a new PPP
Reading Time: < 1 minute(Last Updated On: August 12, 2020)

To date, more than 5.2 million PPP loans were approved with an average loan size of roughly $101,000 – but small business owners are still expressing their need for additional financial aid in order to survive the Coronavirus crisis.

We’re 4 days past the expiration of the Paycheck Protection Program and Congressional leaders have yet to come to an agreement on how a second launching of the program would be designed:

Reports say that Republicans are pushing for a focus on businesses with no greater than 300 employees that have suffered losses in sales of at least 35%; Democrats are aiming their efforts at narrowing the financial aid to business with fewer than 100 employees that have lost at least 50% of their sales since Coronavirus started.

Updates to come as developments are made.

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