Senate Proposed Loan Guaranty Program Offers Better Long-Term Relief Than PPPJul 28, 2020
The Senate gave us a peek at its long-awaited Health, Economic Assistance, Liability Protection, and Schools Act (HEALS) proposal last night, and as before there are a lot of moving parts. Small business owners can celebrate the renewal of the Paycheck Protection Program Act and the new potential for Second Draw Loans for businesses that have already received funding. However, another new loan proposal that went largely unnoticed may actually have more impact. Changes to the Loan Guaranty Program for recovery sector business concerns proposed by Senator Marco Rubio of Florida has the potential to help sustain small businesses for years to come.
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