Congress adjourned on Friday July 31, 2020 for a weekend recess without reaching consensus regarding the stimulus proposal released by Senate Republicans on July 27th. The $1 trillion proposal includes multiple bills which are meant to be passed as a package called the Health Economic Assistance Liability Protection & Schools (HEALS) Act. In addition to another round of stimulus checks for individuals, the proposal contains some key provisions which would continue to help alleviate the hardships faced by many of the country’s small businesses. Among those provisions are:Changes to the original Paycheck Protection Program (PPP)
A second draw PPP
Expanded expense eligibility for PPP funds
New recovery sector business loans
Eligibility
PPP options continue to emerge at a brisk pace. We can help ensure you’re informed and assist with guiding you through the process. Contact a member of our team or fill out the form below to see how we can assist you and your business.For more helpful resources to navigate COVID-19, visit the Elliott Davis COVID-19 Resource Center.
The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change as a result of rapidly evolving legislative developments and government guidance.
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