The popular Paycheck Protection Program (the “PPP”) created by the CARES Act is coming to an end. Time is running out to take advantage of this program. The upcoming deadline to apply for a PPP loan is June 30, 2020. However, many banks are requiring applicants to submit their application prior to the June 30
More small business relief has arrived! On Monday, June 8, 2020, Governor Wolf announced additional relief for small businesses in Pennsylvania. The relief funding consists of $225 million of the $4 billion provided to the Commonwealth through the CARES Act. In addition, the Lancaster County Small Business Recovery and Sustainability Fund is also launching grants
On June 3, 2020, the U.S. Senate passed H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020 (the “Act”). President Trump then signed it into law 2 days later. The Act makes significant changes and updates to the Paycheck Protection Program (the “PPP”).
Such changes include, but are not limited to:
On April 24, 2020, the House of Representatives signed the Paycheck Protection Program and Health Care Enhancement Act (the “PPP and HCE Act” or “Act”) into law. Here are some highlights regarding this new $484 billion Act.
The PPP and HCE Act includes $310 billion in additional funding for
The Lancaster Small Business Emergency Fund is a new fund composed of grants and loans designed to provide COVID-19 relief to small businesses located in the City of Lancaster. There is $1.45 million available in the fund, with $200,000 of that available as grants. The fund will offer the remaining amount as low interest and
On April 10, 2020, the GIANT Company and Team Pennsylvania, announced a $250,000 emergency grant program for companies in the food supply chain. The program will support farms, processors, and other small food businesses that are impacted by COVID-19.
If you are interested, the deadline is short, so you must complete the application quickly.
The U.S. Congress, as part of the CARES Act, has created the Paycheck Protection Program (“PPP”) to provide loan funds to small businesses to increase employee payroll retention during the COVID-19 pandemic. The program even offers forgiveness for the loan under certain conditions.
Small businesses under 500 employees (including sole proprietorships, independent contractors, and self-employed
The Small Business Administration is doing everything it can to establish programs that relieve some of the financial burden COVID-19 has caused the business community. One of the programs it is offering is the Economic Injury Disaster Loan (EIDL).
The EIDL is a working capital loan, and businesses can use it
The COVID-19 pandemic has created a challenging situation for small businesses across the Commonwealth and the United States, including closed courts. Most, if not all, businesses in Pennsylvania are struggling, but there are COVID-19 loan programs out there that can help with cash flow and payroll expenses. This post is a summary of some