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U.S. Govt. Adds $320B to Paycheck Protection Program

President Trump has signed into law a $484 billion COVID-19 relief package, which will offer additional funds to hospitals for COVID-19 testing. Nearly $320 billion will also go to replenish the Paycheck Protection Program, which offers financial assistance to small businesses amid the pandemic.

In the past month, Congress has approved more than $2.7 trillion in response to the pandemic, reports The New York Times.

The Small Business Administration says participating lenders will begin accepting Paycheck Protection Program applications again on Monday, April 27 at 10:30 a.m. EDT.

For more information on how the Paycheck Protection Program could impact your business, visit Hardware Retailing’s dedicated page to get basic facts about the program and answers to frequently asked questions.

Subscribe to Hardware Retailing today to stay updated on the latest COVID-19 headlines and best practice guides for independent home improvement retailers.

About Todd Taber

Todd is trends editor for Hardware Retailing magazine. He graduated from Indiana University where he majored in journalism and French. Throughout his career, he has aimed to highlight small businesses and their community value. He joined NRHA in 2017.

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