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It was welcome news indeed this evening that the administration and the Senate have reached a deal to increase the funding of the Paycheck Protection Program (PPP) and SBA’s Economic Injury Disaster Loans (EIDL) to provide additional emergency financial relief to help businesses through this time.
This has still to be voted on by the House of Representatives, and it is hoped that this could be as early as tomorrow, and if not, on Thursday, April 23. So while we anxiously await the vote in the House, I would urge that if you have not already done so, to reach out to your relationship banker / local lender to begin the process. Should you not have a relationship banker, please see this useful list of local lenders who are approved to process loan applications, collated by our colleagues at the Central Florida Development Council. Summary of New/Phase 3 CARES Act Funding: Much more detail is still to come, but to better understand the new CARES Act funding, I encourage you to review this top line summary of the bill.
Kindest regards - Amanda-Jo Amanda-Jo Nicholson, IOM Vice President of Member Services Cell: (863) 242-6934 Greater Winter Haven Chamber of Commerce Tel: (863) 293-2138 www.winterhavenchamber.com
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401 Avenue B, NW, Winter Haven, FL, 33881 Phone: (863) 293-2138 [email protected] |
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