| March 31, 2020 |
| THE SCALISE CAPITOL REPORT |
| BREAKING NEWS for Small Businesses The CARES Act – the third Coronavirus bill – was signed into law by President Trump on Friday, March 27th.This bill created the Paycheck Protection Program, a nearly $350 billion program to provide eight weeks of cash-flow assistance to small businesses through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. The U.S. Treasury Department, along with the Small Business Administration, are implementing this program, and the information below is provided by the Treasury Department.New SBA Paycheck Protection Program Application Available NOW Today, the Small Business Administration and the Department of Treasury announced that they have initiated a mobilization effort of banks and other lending institutions to provide small businesses with the assistance they need. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards. |
