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.
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