PPP funds run out; Congress still discussing coronavirus relief bill
PPP funds run out; Congress still discussing coronavirus relief bill
Reading Time: < 1 minute(Last Updated On: April 19, 2020)
On Thursday, April 16, the SBA announced that the $350 billion Paycheck Protection Program has been depleted of funds. Business owners are still in great need of financial relief after government shutdowns have taken a heavy toll on so many – and forced many more to close up shop.
An additional $250 billion federal coronavirus relief bill is still being debated as Congress members continue to butt heads over how the money will be distributed. Congressional Democrats have been blocking the bill from passing, insisting that a portion be allocated for state and local governments, along with hospitals. Discussions have continued throughout the weekend.
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.
