Good News for People Waiting on Their Payroll Protection Program (PPP) Loans

The news broke last week that all money the CARES ACT gave out in order to fund the Payroll Protection Program (PPP) loans had dried up.  There are many people out there who received a loan number but had not received their proceeds from the PPP loan.  The Senate passed a $480 Billion interim stimulus bill to help small businesses and the health care industry.  The Bill set aside $380 Billion which is solely dedicated to the small business loans as the money in the original Bill had not fulfilled all the applied.  Specifically, $320 Billion is set aside for use of using of PPP Loans to qualified applicants.  This may be a good time to call your bank and see if you are in line to receive proceeds from the new Bill passed.