Congress passes additional $484B in coronavirus relief
After money for the popular Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) was quickly depleted following the passage of the CARES Act, on April 24 President Trump signed a bill with another $484 billion in additional coronavirus relief funds approved by Congress.
The PPP was allocated $310 billion, $60 billion of which is reserved for community banks and small lenders. $60 billion will go to emergency disaster loans and grants. Hospitals will receive $75 billion and testing research will receive $25 billion.
The coronavirus aid for businesses is expected to be allocated quickly, so we encourage Missouri businesses to apply for funds without delay. These additional funds could become available as early as Monday, April 27. Watch this free 18-minute webinar on which funding programs are the best fit for your business and things to consider when applying.
The Missouri Chamber greatly appreciates our members, many of whom sent messages to Congress urging them to pass this vital funding.