Posted By Lauren Brawley On April 29, 2020
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