Update on new PPP and EIDL Appropriation Monies
Update Friday April 24. The House passed the appropriation bill on Thursday.
President Trump signed a $484 billion interim coronavirus relief bill on Friday that will add another $310 billion to the small-business Paycheck Protection Program (PPP), as well as provide billions in aid to hospitals and for testing.
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On Tuesday (April 21) the US Senate passed a $484 Billion appropriation bill to further fund the SBA Economic Injury Disaster Loan (EIDL) (and EIDL Loan Advance) and Paycheck Protection Plan (PPP) programs.
The US House votes on Thursday (April 23) . If passed, it will go to the President to sign.
Until then, the EIDL application portal remains unavailable. But the SBA is continuing to process applications internally, and banks continue to accept applications for both employer and sole-proprietor/self-employed/1099 PPP programs.
We expect the EIDL portal to reopen soon.
An informative article:
https://www.washingtonpost.com/us-policy/2020/04/21/congress-coronavirus-small-business/
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