Small Business Administration Rolls Out Paycheck Protection Program for COVID-19

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Posted: Apr 03, 2020 9:45 AM
Small Business Administration Rolls Out Paycheck Protection Program for COVID-19

Source: AP Photo/Alex Brandon

The Small Business Administration rolled out the Paycheck Protection Program (PPP) on Friday morning, after President Trump said that the program was nearly ready to launch during Thursday’s White House coronavirus task force briefing. 

A provision of the bipartisan CARES Act, an economic stimulus package passed by the Senate and signed into law by President Trump last week, the Paycheck Protection Program gives $350 billion of relief to America’s small businesses sector. Small businesses are eligible to apply for the program, and receive eight full weeks of financial assistance at a local bank in order to keep their doors open and employees paid. 

Despite Democratic hysteria, the Trump Administration has taken bold, decisive action to bring economic relief to Americans suffering the most, as the White House combats the COVID-19 pandemic.