From the US Chamber of Commerce
Thursday, the House of Representatives passed and President Trump signed into law an additional $310 billion to the CARES Act Paycheck Protection Program (PPP).
“The U.S. Chamber of Commerce thanks our Congressional leaders for addressing the shortfall in available small business funding and replenishing the sought-after Paycheck Protection Program funds,” said Maura Donahue, President, DonahueFavret Contractors Holding Company and Chairman, U.S. Chamber Board of Directors. “These additional funds will help more small businesses to stay open and create economic security for communities across the country.”
However, given the severity of the economic crisis, this relief won’t be enough for small businesses on the brink of closure.
“Unfortunately, we anticipate these new funds will be exhausted quickly,” said U.S. Chamber President Suzanne Clark. “Congress must start working now on bipartisan solutions to ensure these programs do not lapse again. Small businesses and the families and communities they support are counting on these critical relief programs to help them survive the economic shut down and get on the path to recovery."
For those needing help navigating CARES Act programs, the U.S. Chamber has produced a number of guides to help small businesses, independent contractors, and gig economy workers prepare to file for relief.
For more small business support, we are hosting a number of online events:
National Small Business Town Halls, in partnership with Inc. Magazine every Friday
Workshop Wednesdays, hosted by CO– by the U.S. Chamber of Commerce
Path Forward, a bi-weekly series hosted by the U.S. Chamber Foundation