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DEVELOPING — U.S. Senate passes $2 trillion stimulus bill that provides expanded unemployment, strategic tax relief, healthcare system support, and enhanced aid for #smallbiz.
Section 1102, for instance, creates the “Payment Protection Program”, providing broader authority for the U.S. Small Business Administration to issue 7(a) loans to eligible small businesses for payroll, health benefits, rent, mortgages, utilities, and other eligible debts.
Section 1106 allows businesses with these 7(a) loans under the Payment Protection Program to seek loan #forgiveness equal to payments for payroll, rent, mortgages, utilities, and interest thereon between Feb. 15, 2020 and June 30, 2020.
