On April 23, 2020, Congress passed the Paycheck Protection Program and Health Care Enhancement Act. This bill allocates a combined $370 billion of additional funding for the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) programs to assist businesses affected by the economic impacts of COVID-19.
It is widely assumed that these newly approved funds will once again deplete very quickly, so we urge you to be in contact with your preferred lender as soon as possible to initiate the application process. Please contact us with any questions regarding support for your loan application(s) and how best to allocate your funds and track your spending.
KuberneoCPA will continue to monitor the U.S. government response to the COVID-19 pandemic and other actions to keep you as informed as possible. We will continue to post updates on our COVID-19 Resource Center so check back often!