According to CNBC and other news reports Congress is close to a deal on infusing more funding into the Paycheck Protection Program (PPP) to help small businesses affected by the stay at home orders nationwide.
On Thursday, April 16th the U.S. Small Business Administration, who is charged with administering the PPP, announced that the initial funding amount of $349 billion had run out and applications were no longer being accepted.
But the additional funding looks to be an even larger amount. Various reports have put the negotiated amount at between $370 – $400 billion for the program. Although Congress and the President promise they are moving negotiations along quickly there is no timeline for a vote as of this writing.