Last week, Congress passed a new massive spending bill that will replenish a lending program aiding small businesses and nonprofits impacted by COVID-19.H.R. 266 which will provide an additional $321 billion for the Paycheck Protection Program and an extra $100 billion for hospitals and COVID-19 testing. This bill was critical to pass since many nonprofits in Ohio and nationwide were unable to receive their forgivable PPP loans due to the federal government running out of money.We are hopeful that this new infusion will result in all pending applications to get funded.The Alliance has held weekly meetings with the leadership of our member agencies to share information on the PPP including legal compliance strategies.
Congress Adds $321 Billion into Paycheck Protection Program (PPP)
Updated: Jun 30, 2020