Congress recently passed, and the President signed, the “Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act” (i.e. the Economic Aid Act) into law. The legislation includes roughly $900 billion in financial assistance to individuals, small business owners, hospitals, etc. who are struggling to make it through the Coronavirus Pandemic. A key component of the Economic Aid Act was infusing the moribund Paycheck Protection Program (PPP) with an additional $284 billion in funds. This…
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