President Trump Signs $484 Billion Coronavirus Relief Bill for Small Businesses
By Fox News // April 25, 2020
helps businesses with fewer than 500 employees obtain loans
ABOVE VIDEO: Trump signs additional $484 billion in coronavirus relief.
(FOX NEWS) – President Trump on Friday signed the nearly $500 billion “Phase 3.5” emergency interim coronavirus relief package into law after Congress passed legislation this week replenishing the fund for small businesses and adding billions of dollars in aid to hospitals across the country amid the COVID-19 pandemic.
In an Oval Office ceremony, the president touted the bill as being “great for small businesses” and “great for the workers,” adding that the bill will “extend relief to thousands of African-American and Hispanic American business owners.”
The new interim emergency relief package, which provides $484 billion in additional funding, passed the House on Thursday and the Senate earlier this week.
The bill delivers a $310 billion infusion to the Paycheck Protection Program (PPP), which helps businesses with fewer than 500 employees obtain loans that can cover eight weeks of their payroll, benefits and other expenses.
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