As you may know, Congress has worked to increase funding for the PPP and EIDL loan programs after the first round of funds left many businesses unable to receive the support they need.
The new CARES Act contains a $310 billion dollar increase for the Paycheck Protection Program with important set asides of $60 billion for Community Lenders, Credit Unions, and other smaller institutions. It also includes an additional $10 billion in EIDL Grants and $50 billion to support EIDL loans. The eligibility for these EIDL grant and loan programs has been expanded as well to include many agricultural businesses.
In addition to replenishing funds, this legislation has made much needed improvements that will help small businesses, farmers, ranchers, and lenders, among others, get the resources they need to continue to serve our communities.
The work continues though, and Representative Torres Small is committed to seeing the process through. OnTuesday, April 28th at 2pm MST, we will be hosting our second call for small business owners, Chambers of Commerce, and Economic Development Councils. During this call, we hope to provide further details on the changes and additional funding within the new coronavirus relief legislation, as well as hear your concerns. We will also have guests from SBA, SBDC, NMDWFS, and ICBA available to answer questions that folks may have as they continue to navigate this process.
I hope that you’ll be able to join us.
What: Call w/ Rep Torres Small
When:Tuesday, April 28th, 2pm
Dial-in Info:(312) 626-6799; code: 879 3121 2896 #
RSVP Here
https://torressmallforms.house.gov/forms/form/?ID=32&Preview=true
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