As you are aware, the first round of funding for the Paycheck Protection Program has been exhausted. Earlier in the week, the Senate approved an additional $310 billion to fund the program. Today, we are hopeful the House will approve this bill and then pass to the President for his signature.
If you applied during round one but did not receive a loan application number, it is recommended that you contact your lender as soon as possible to begin the application process for this program. We expect these monies to be exhausted as well, and as the old saying goes, the early bird gets the worm. While the SBA has an application online, your lender may have an additional/different application four you to submit.
We will announce via email and social media when the bill has been signed to give you the most up to date information available. Until then, should you have questions, please reach out or visit the SBA’s website.
The governor announced today that he would be discussing more details surrounding the strategic reopening of Ohio during Monday’s press conference. We are also working on a plan to help you through the process as well. We will unveil the plan in the coming days.
I was reminded of a quote that seems very appropriate for what we are all experiencing. “The secret of change is to focus all your energy not on fighting the old but on building the new.” -Socrates.
Have a great evening,