Coronavirus Government Response Update—Paycheck Protection Program Resumes

April 27, 2020 Coronavirus Government Response Update—Paycheck Protection Program Resumes

Welcome to the Coronavirus Government Response Update. This information is intended to keep ISSA members up to date on fast-moving government affairs related to the COVID-19 pandemic, as well as other public policy issues important to the cleaning industry. Today’s update touches on the Paycheck Protection Program resuming, President Trump signing another coronavirus relief package, additional states easing coronavirus restrictions, and more.

Paycheck Protection Program Resumes
The U.S. Small Business Administration (SBA) resumed accepting Paycheck Protection Program (PPP) applications from participating lenders on April 27. The PPP is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

Trump Signs $484 Billion Coronavirus Relief Package
President Trump signed legislation providing US$484 billion to replenish a popular small business lending program and support hospitals and COVID-19 testing amid the coronavirus pandemic. The measure includes an additional $310 billion in funding for the Paycheck Protection Program, $60 billion of which is reserved for community banks and small lenders; $75 billion for hospitals; $25 billion to support testing efforts; and $60 billion for emergency disaster loans and grants.

More States Easing Coronavirus Restrictions, Unnerving Experts and Some Local Officials
Several states are reopening from coronavirus shutdowns this week despite the recommendations of health researchers. Colorado, Minnesota, and Montana plan to ease social distancing and stay-at-home restrictions. Iowa will allow elective surgeries to resume and farmers markets to reopen. Tennessee restaurants can welcome customers at 50% capacity and retail stores can reopen under those same guidelines, Tennessee Gov. Bill Lee said.

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