Senate refreshes PPP
By HME News Staff
Updated Wed April 22, 2020
WASHINGTON - The Senate on Tuesday unanimously passed a bill earmarking $310 billion to replenish the depleted Paycheck Protection Program (PPP).
“This is great news for DMEPOS suppliers, as it means additional funding availabilities,” said VGM in a bulletin. “We've heard from many (suppliers) that have not received PPP funding from (their) bank.”
The bill, which will deliver a total of $484 billion in funding for small businesses and hospitals, and expanded COVID-19 testing, now heads to the House of Representatives, which could vote as soon as Thursday.
VGM encourages HME providers to act quickly on the new relief funding.
“If you haven't received any PPP dollars yet, it is recommended that you reach out to your credit union or bank this week to ensure you are first in line to receive these dollars,” the group said.
The bill allocates $60 billion, specifically, for small lenders and another $60 billion for Small Business Administration disaster assistance loans and grants.
The initial $350 billion in the PPP dried up last week.
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