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.

Disclaimer: The information contained in this article is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The author accepts no responsibility for any consequences whatsoever arising from the use of such information.