Tag: Paycheck Protection Program
Provider relief updates: PPP, Medicaid
July 7, 2020HME News Staff
President Trump has extended the deadline for small businesses to apply for a loan from the Paycheck Protection Program to Aug. 8. The original deadline was June 30, but as of that date, there was $130 billion still available in funding. On July 4, President Trump signed a bill that would extend the deadline to Aug. 8. “Any business that meets the qualifications for the program but has not yet applied now gets a second chance at the popular program,” VGM Government Relations stated in...
President signs bill to fix PPP
June 5, 2020HME News Staff
WASHINGTON - President Trump has signed a bill that makes significant improvements to the Paycheck Protection Program.The bill, which was passed by the House of Representative last week and the Senate this week, would give recipients nearly six months, instead of eight weeks, to use the funds they receive to qualify for loan forgiveness.It would also allow recipients to spend just 60% of funds on payroll expenses, instead of 75%, allowing them to spend the remaining 40% on non-payroll expenses like...
PPP funds are 'must have' for HME companies
May 8, 2020Theresa Flaherty, Managing Editor
YARMOUTH, Maine - More than half of respondents to a recent HME Newspoll say they received funds from the initial Paycheck Protection Program.
Of those that received funds, 68% received more than $75,000. Others received smaller amounts: up to $25,000 (13%), $26,000-$50,000 (13%), and $51,000-$75,000 (6%).
“It will enable us to continue employing and paying all our employees, make our lease payments and buy our goods without any interruption to our patients,” said John Skoro, president...
House joins Senate in passing relief funding
April 24, 2020HME News Staff
WASHINGTON - The House of Representatives on Thursday passed a $484 billion agreement for pandemic relief, including $310 billion to replenish the depleted Paycheck Protection Program (PPP). The bill allocates $60 billion, specifically, for small lenders and another $60 billion for Small Business Administration disaster assistance loans and grants. The bill also includes funding for hospitals and expanded COVID-19 testing. The Senate unanimously passed the bill on Tuesday and the president was expected...
The Paycheck Protection Program from A to Z
April 13, 2020Matthew Fischer
To aid businesses and their employees during the coronavirus crisis, the Small Business Administration is offering loans, called Paycheck Protection Program loans, up to a specific limit to cover payroll and other costs. The PPP contains a simplified application process (some may disagree) and fewer documentation requirements as opposed to typical loans. The PPP is available through June 30, 2020. If you are considering this program, it is important to determine the details before proceeding with...