$484 Billion Coronavirus Relief Package signed into law

 

The president just signed the $484 billion stimulus bill however according to banks most of that money will be gone in matter of days, however about $60 billion of the monies will be set aside for businesses that don't have an established banking relationship i.e. rural and minority-owned businesses and will be allocated to smaller banks and credit unions to lend out.

 

So if you haven't applied, put your applications soon with participating community banks and/or credit unions and if you have applied follow up with your bank to check your status.

 

https://www.marketwatch.com/story/banks-warn-additional-310-billion-allocated-for-small-businesses-likely-already-used-up-2020-04-22?reflink=mw_share_email

 

**Also for those in the City of Dallas, the Dallas City Council is providing financial relief. The Office of Economic Development is launching a $5 million Small Business Continuity Fund that will provide up to $10,000 in grants and up to $50,000 in low-cost loans to small businesses affected by COVID-19.

 

See link below:

http://www.dallascitynews.net/dallas-city-council-provides-covid-19-relief

 

 

 

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