RTBH – PPP Loan Update – Second Round of Funding

From The Partners of  Russell Thompson Butler & Houston, LLP:

The House of Representatives is scheduled to vote today, April 23rd, on a $484 billion interim coronavirus relief package. This Paycheck Protection Program and Health Care Enhancement Act, once approved by the House, is expected to be signed by the President.

Included in the provisions are the following:

  • $310 billion to replenish the Payroll Protection Program
  • $75 billion for hospitals
  • $25 billion for disease testing
  • $60 billion in disaster aid

Due to the high demand for the Payroll Protection Program loans, it is anticipated that the funds will be depleted quickly. If you have not yet submitted your loan application to your financial institution, we recommend that you take action to do so right away.

We trust that you and your families are keeping safe. Please reach out to us at any time if we can be of service.

The Partners of  Russell Thompson Butler & Houston, LLP

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