$484 Billion Paycheck Protection Program and Health Care Act Passed
by Contributor | April 27, 2020 11:29 am
OSWEGO COUNTY – The passage of the $484 Billion Paycheck Protection Program and Health Care Act injects additional funding to the Paycheck Protection Program (PPP) and the Emergency Injury Disaster Loan (EIDL).
The PPP will receive an additional $310 billion in funding and will be disbursed as follows:
- $30 billion for Insured Depository Institutions and Credit Unions with between $10 billion and $50 billion in assets
- $30 billion for Community Financial Institutions, Small Insured Depository Institutions and Credit Unions with less than $10 billion in assets
- $50 billion for SBA Disaster Loan Program
- Accepting new applications starting Monday, April 27 at 10:30 a.m., contact your bank for assistance
For more information on the PPP program, visit https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program[1].
The EIDL will receive an additional $10 billion in funding and eligibility is expanded to include agricultural enterprises with less than 500 employees.
For more information on these programs, visit https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance[2].
Press release from Operation Oswego County.
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Endnotes:- https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program: https://t.e2ma.net/click/ddt6gc/thf3tf/9trpqq
- https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance: https://t.e2ma.net/click/ddt6gc/thf3tf/pmspqq
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