Stimulus Bill Signed Into Law: Additional PPP & EDIL FUNDING

An additional stimulus package has been passed and officially signed today by the President. This package will provide an additional $310 billion in funding for the Paycheck Protection Program (PPP) and replenish Economic Injury Disaster Loan (EIDL) funding.

What it means for business owners

If you haven’t yet applied for a loan through the PPP or EIDL, we recommend you do so as soon as possible. The funds are limited and similar to the previous stimulus package, could run out before all applicants receive funding. To ensure you have the best chance of receiving funds, apply as soon as you can.

In addition to your business banking institution, you may want to consider other lending institutions as well as internet lending sites such as Kabbage, Intuit and Paypal.

For more information on these loans, their requirements and terms for forgiveness, please check out our resource center.