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Eligibility Criteria for Small Business Stimulus Package
Eligibility Criteria for Small Business Stimulus Package
The Corona stimulus package has been passed by Congress and as soon as the President signs the bill it will be
ready. Donald Trump's stimulus check will give more money to Americans and will also help small businesses.
However, it will require the approval of Congress to give relief to SMB’s with additional support.
The vaccine for COVID-19 is now discovered but still, it will take time to heal the country economically.
There are still lockdowns in many parts of the USA. The business has been adversely impacted by these
lockdowns mainly small businesses are more affected by it as compared to large corporations. So to keep
things afloat a relief package is a ray of hope for many Americans until the vaccination is available for everyone.
Small businesses faced a lot of problems, and this article wills roundup those issues for you. Many business
owners feel positive after the discovery of vaccines and they look forward to 2021 as the year of hope.
Thousands of business owners are applying for the PPP Paycheck protection Program and it is helping small
business owners throughout the country. The companies which lost everything due to this corona pandemic
can apply for loans and PPP if they fit the criteria they will get the amount.
The second stimulus check will provide support to business owners who lost everything in the pandemic.
It will help them to get back on their feet and re-establish their status. This package could give a second
chance to the small business community throughout the USA.
Small-business Help
PPP loans:
The agreement includes some $284 Billion for Paycheck Protection Program loans. Democrats say they
expanded eligibility for the loans to include nonprofits and neighborhood papers, together with TV and radio
stations. Also, $15 billion would be reserved for live venues, independent film theatres, and cultural institutions,
which were struggling due to pandemic-forced closures.
Child care centers:
In accordance with a Republican summary of the strategy, the measure includes $10 billion for child care
facilities to help suppliers safely reopen.
Summary
The bill has been signed by President Trump and many sectors including Transports, business, education,
agriculture all the sectors will get aid. This agreement also includes purchasing and distributing COVID-19
the vaccine to different parts of the country.
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