Rep. Loudermilk Business Brief: Agreement Reached on More Funding for PPP
Posted by on April 22, 2020 | comments
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Dear Small Business Owner,

Yesterday, the Senate passed a funding package that will provide more financial relief to small businesses affected by COVID-19. The package, which the White House negotiated with Senate and House leadership from both parties, includes $310 billion to add to the Small Business Administration’s Paycheck Protection Program (PPP). The House is scheduled to vote on this package Thursday.

$60 billion of this new PPP funding would be dedicated to small lenders and community financial institutions. Additionally, the bill would provide $50 billion more for the Economic Injury Disaster Loan program, $25 billion for testing, and $75 billion for hospitals.

Below are some helpful links regarding the PPP:

-Find Eligible Lenders Tool

-SBA Guidance

-SBA Lender Application Form

-SBA Borrower Application Form

The Paycheck Protection Program was created under the CARES Act economic stimulus package passed by Congress in March. This program is designed to provide cash-flow to small businesses impacted by the current COVID-19 health crisis.

On a separate note, Georgia Governor Brian Kemp announced Monday that some businesses in Georgia will reopen this week. Beginning Friday, April 24, Georgia will allow barber shops, hair salons, gyms/fitness centers, bowling alleys, cosmetologists, nail salons, their respective schools, and massage therapists to reopen their doors. Theaters, private social clubs, and restaurant dine-in services will be allowed to reopen on Monday, April 27, all with proper protocols in place for social distancing and cleanliness standards set forth in the Minimum Basic Operations guidelines.

Minimum Basic Operations includes, but is not limited to, screening workers for fever and respiratory illness, enhancing workplace sanitation, wearing masks and gloves if appropriate, separating workspaces by at least six feet, teleworking where at all possible, and implementing staggered shifts.

The Governor will release more information toward the end of the month, but for more information regarding the Governor’s announcement, please CLICK HERE.

I was interviewed this week by Stuart Varney on Fox Business about the Governor's announcement and what it means for our country going forward.

All the best,

Barry Loudermilk
Member of Congress
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