President Donald Trump has signed executive measures to restore lapsed benefits to Americans, but the order did not include new direct measures to support small businesses.
Early last week, business leaders across the country came together to call for another round of funding under the federal government’s Paycheck Protection Program (PPP), but decisions on what to do with the program had yet been made as of Friday.
Then on Saturday, the President circumvented Congress to extend a range of federal pandemic relief measures, including a federal eviction ban and a payroll tax deferral, but the PPP was not included.
To date, more than five million companies have received under the PPP to maintain jobs, but the program is now expired, despite having $130 billion in unspent funding.
As of Friday, decision-makers were still discussing whether smaller businesses could potentially apply for a second loan under the program.
Look out for next week’s issue of Fundnews to learn what happened to the PPP, and try Fundsearch today to find funding for your business now.