Posted By Lauren Brawley On April 29, 2020
Additional COVID-19 Stimulus Funding Available
The Federal coronavirus stimulus package was so well-received, it actually ran out of money! Luckily, Phase 3.5 of the COVID-19 funding passed, making $484 billion of emergency funds available for small businesses. The SBA is accepting applications again now.
More Funding for Small Businesses:
- The Paycheck Protection Program was replenished, allowing small businesses and nonprofits to apply for economic relief.
- Loans can be forgiven if the money is used to keep employees on payroll.
Funds for Behavioral Health Agencies:
- Mental Health and Substance Use Disorder Providers are eligible for additional healthcare funds.
- Eligibility is the same as it is for the CARES Act.
- The first $30 billion of these funds are allocated to Medicare providers
ACT FAST: Get your materials in order now. Remember, items may vary by lender.
More Details:
The Coronavirus Aid, Recovery and Economic Security (CARES) Act
The CARES Act Section by Section Summary
Small Business Administration Disaster Assistance
Corona Virus Emergency Loans Small Business Guide and Checklist