Senate approves $310 billion in new SBA PPP loan money. What you should know

Small businesses and lenders have been waiting with bated breath for news of additional funding for the Small Business Administration’s Paycheck Protection Program, and now Senate Republicans and Democrats have reached a deal on Tuesday for a bill approving over $480 billion in additional coronavirus relief. The bill was passed in the Senate on Tuesday afternoon, and the House could approve the bill as early as Thursday.

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