A Little Good COVID 19 News For Businesses
The coronavirus pandemic has been nothing but bad news but, here's at least a small bright spot for certain businesses.
The United States government has offered financial relief to businesses and individuals but, the business loan money pretty much ran out. Now, the Senate has approved more funding to keep cash coming to small businesses in the form of a new relief package totaling $484 billion. Billion ... with a "B".
A New York Times article reports that the package would:
...replenish a depleted loan program for distressed small businesses and provide funds for hospitals and coronavirus testing, approving yet another huge infusion of federal money to address the public health and economic crisis brought on by the pandemic.
Other programs are being considered which very well may amount to over $1 Trillion dollars in total government funds including $320 billion to save the Paycheck Protection Program. This gives loans which could be forgiven as long as most of the money is used to keep employees on the payroll.