New federal emergency relief bill includes more money for small businesses

Published: Apr. 24, 2020 at 5:49 PM AKDT
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President Trump signed a $484 billion coronavirus emergency relief bill Friday, which included $310 billion for the Paycheck Protection Program.

Administrator of the U.S. Small Business Administration Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin said in a statement Friday that they are pleased that President Trump had signed the Paycheck Protection Program and Health Care Enhancement Act, "which provides critical additional funding for American workers and small businesses affected by the coronavirus pandemic."

Alaska's Department of Commerce, Community, and Economic Development Commissioner Julie Anderson said in a statement that she encourages Alaskan businesses to apply for these funds immediately.

“These funds are distributed on a first-come, first-serve basis. Please work with your lending institution, certified public accountant, or the small business development center to ensure your application is ready now,” Anderson said.

The SBA will begin taking loan applications for these programs again on Monday, April 27.

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