Client Alert: Additional Coronavirus Small Business Relief Funding

By Melanie Wiener and Melody Schor

Dear Valued Clients,

Congress reached a deal for a bill approving over $480 billion in additional coronavirus relief, which includes $310 billion for the Paycheck Protection Program (PPP) and additional funding for the SBA disaster relief loans (EIDL). The bill was passed in the Senate on Tuesday afternoon, and the House could approve the bill as early as Thursday, to be signed into law shortly thereafter.

If your existing lender has advised you that they are not accepting or processing PPP applications, or you have not submitted an EIDL application, please contact Melanie I. Wiener, Esq. or Melody Schor, Esq. immediately. A key factor to obtaining funding is expediency in the application process, which can be accomplished prior to the program’s re-opening. Funding will run out shortly after the Treasury Department reopens the program.