President Trump today signed legislation restoring funding to the depleted small business loan programs, the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) programs. The $484 billion package provides $310B to PPP and $60B to EIDL, along with more funding for health care providers and hospitals. Talks continue about the next round of stimulus money, but Senate Majority Leader McConnell indicated this week that formal negotiations will not begin until the Senate returns to Washington on May 4.
This piece will help guide you in your financial advice to your clients to ensure minimal pain and alterations to their savings and planning goals.
We have created a guide to help Statutory W2 Employees and Independent Contractors know the SBA loan programs that are available to them during the COVID pandemic.
Check out the first installation of our new monthly webinar series, “You Ask, We Answer,” where members asked our experts questions about the stimulus bill and discussed challenges due to the crisis.
Please continue to visit the AALU/GAMA COVID-19 Action Center for the latest updates on what’s happening in Washington and how it impacts you. Send us your feedback, ideas, and stories about your business or how you’re helping your clients during this time.
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