Small business owners across the Nation Including in Eagle Pass got a reprieve from the Federal Government on Thursday when the House of Representatives voted to approve the next infusion for small businesses aid. The new $484 billion bill is aimed to recharge 2 exhausted small business-relief programs. It will also offer very needed additional assistance to hospitals and funds more COVID-19 testing. The new relief bill will provide another $310 billion into the Paycheck Protection Program which is designed to keep employees on payrolls.
The initial $350 billion that was part of the $2 trillion rescue package dried up last week leaving so many companies in the dry. Up to now there is no clear picture as to how many businesses have received any of that funding. The new bill will also allocate $60 billion for small lenders as part of the small business aid program. It also provides another $60 billion toward the Small Business Administration disaster assistance loans and grants. It will include $25 billion for coronavirus testing and $75 billion in hospital relief.
As the first round of relief funds quickly disappeared, which left many businesses Including here locally in limbo. President Donald J. Trump is expected to sign the bill into law immediately. Local public officials were glad that the new bill did go through without any bumps on the road.
Maverick County Judge David Saucedo and Eagle Pass Mayor Luis Sifuentes urge the business community to take advantage of the new programs and file your necessary applications. “Remember, the early bird gets the worm,” stated Judge Saucedo.