Today, the US House of Representatives passed the second phase of funding for the Paycheck Protection Program, providing another $310 billion in funding for the forgivable small business loans. President Trump has said he plans on signing the bill tonight.
This means tens of thousands of applications pending at banks and other lending institutions throughout the country can now be funded.
It is not clear if this supplemental funding will mean full funding for the program. Many businesses, sole proprietors and 1099 contractors have not yet even filed their applications.