December 22, 2020 2:30 pm – Coronavirus relief package approved

This week, Congress passed the Coronavirus Response and Relief Supplemental Appropriations Act. The $900 billion package includes:

  • $284 billion for the Paycheck Protection Program (PPP) and an extension of PPP through March 31, 2021. Certain 501(c) (6) organizations are now eligible for PPP. 
  • $3.5 billion to resume debt relief payments of principal and interest (P&I) on small business loans guaranteed by the SBA under the 7(a), 504 and microloan programs.
  • Extension and expansion of the Employee Retention Tax Credit (ERTC).
  • An additional $300 per week to supplement all state and federal unemployment benefits.
  • Full federal financing of state work-share programs.
  • One-time direct payments of $600 for individuals earning up to $75,000 and $1,200 for couples making up to $150,000, as well as an extra $600 per eligible child dependent. 

To view a more detailed summary of the bill, click here 

We will communicate the details of the bill and access to the assistance as more information becomes available.