Paycheck Protection Program could see $321 billion infusion


A fourth emergency economic aid package created in responses to the COVID-19 crisis has passed the United States Senate and is heading to the House of Representatives for a final vote. President Donald Trump has indicated that he will sign the bill once it reaches his desk. 

The $484 billion deal passed by the Senate Tuesday afternoon and includes a $321 billion infusion into the embattled small-business loan programs that have rolled out over the last few weeks. 

The federal government’s Paycheck Protection Program (PPP) opened to applications from businesses with 500 or fewer employees two weeks ago and quickly ran out of funds as the crushing economic losses gripping the country intensified. As Archinect members have explained, many of the small businesses that have applied for the funding have yet to hear back from the Small Business Administration, the department that is leading this aspect of the government’s economic support. Even fewer have actually received any of the loan ...

Antonio Pacheco via Archinect - News https://bit.ly/2yA2Zds

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