News Alert: Trump Signs Second Stimulus Bill with $310 Billion in Small-Business Aid: Here’s How to Receive Money

Today President Trump signed into law a new $484 billion stimulus bill, which includes an additional $310 billion for the Paycheck Protection Program (PPP). The PPP, established as part of the $2.2 trillion CARES Act, is a loan program designed to help small businesses impacted by the COVID-19 pandemic cover payroll costs and other essential expenses. The bill is expected to pass in the House tomorrow and be signed into law as early as Thurs., April 23.

The additional aid comes after the initial $349 billion allocated to the PPP ran out Thurs., April 16. Since the Small Business Administration (SBA) began accepting applications on April 3, nearly 1.6 million companies have received loans, a fraction of the country’s 30.2 million small businesses.

In addition to $75 billion for hospitals and $25 billion for a new COVID-19 testing program, the new bill has allotted $60 billion for emergency advance loans as part of the SBA’s Economic Injury Disaster Loan (EIDL) program, which has also run out of money.

Read our post about how your company can apply for a PPP or EIDL loan, as well as how it can receive other forms of aid during the COVID-19 pandemic.

Sign up for our newsletter

The latest legislative developments, business risks, and trends in the wake of the COVID-19 pandemic.

Learn more

Related content

See all insights

COBRA and EBSA Disaster Relief Notice 2021-01

Expanding employee benefits: Mental health and wellness

Alegeus Inclusive Innovation Curriculum and Certification

Adjusting your health benefits strategy in the new year

Five themes that will define consumer-directed healthcare in 2021

COVID relief bill includes provisions for FSAs

The future of health benefits: flexibility

Episode 03: Supporting the full consumer lifecycle: A discussion on employee savings strategies with Alight

Closing the gap in healthcare payment tech

The future of tech and the health benefits industry

COVID-19 Healthcare Spending Trends and Recovery Index

Consumers Primed for HSA Education