Senate Passes $484 Billion Relief Package for Small Businesses

The U.S. Senate approved a $484 billion relief package for small businesses and hospitals on April 21. The stimulus is targeted at businesses that did not receive money from the initial $349 billion set aside in the Paycheck Protection Program (PPP) that ran out after two weeks.

This new relief package includes about $320 billion for loans through the PPP. The loans would be "fee-free" up to $10 million for businesses and non-profits. Also, employers who keep their payroll throughout the coronavirus emergency may be forgiven payroll, rent, utilities, and mortgage interest payments for up to eight weeks.

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Source Fool.com