The Branson/Lakes Area Chamber of Commerce & CVB and Taney County Partnership continues to share important updates and information during COVID-19 to help your business navigate the current economic landscape.
This week, the Senate passed a $484 billion bill to inject additional funding into SBA disaster loan programs — both the Paycheck Protection Program (PPP) and the Emergency Injury Disaster Loan (EIDL) — that will now head to the House where it is expected to pass later this week. The bill comes after weeks of negotiations between Congress and the White House and after the initial funding for the programs was largely exhausted last week. The bill also contains critical funding for testing and hospitals.
According to trusted sources, if the CARES Act was the third of the ‘COVID-19’ bills (‘covid 3’), the bill today (the Paycheck Protection Program and Health Care Act) should be considered ‘covid-3.5’. Today’s bill was not, nor was it intended to be, of a similar scale and scope as CARES. That bill — ‘covid 4’ — is yet to come and currently being discussed in Congress.
We encourage you to reach out to your financial advisors and your local bank for more information on this next wave of funding, eligibility, and what you need to do apply for this next round of funding.