More PPP Funding May Be on the Way
The Paycheck Protection Program quickly depleted nearly $350 allocated for low-interest loans for small businesses under the CARES Act. Senate Republicans and Democrats have reached a deal on Tuesday for a bill approving over $480 billion in additional coronavirus relief. The bill was passed in the Senate on Tuesday afternoon, and the House could approve the bill as early as today. In addition to new funding for hospitals, testing, and SBA disaster relief loans, the new package includes $310 billion for the PPP.