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President Trump is aggressively confronting coronavirus on multiple fronts: not only to protect the health of Americans, but their economic wellbeing too.

 

That’s why President Trump secured the Paycheck Protection Program (PPP) to inject $350 billion into America’s great small businesses.

 

Small businesses in Iowa have been hit hard by COVID-19, but the PPP will provide economic relief for Iowa businesses – which will allow them to keep workers on the payroll and keep their businesses open.

Starting today, this program, through the Small Business Administration, will:

·       Provide 8 weeks of cash-flow assistance to small businesses that maintain their payroll during the coronavirus crisis.

·       Small businesses can take out a forgivable loan: If the employer maintains its payroll and this money is used for paying rent or salaries, then the loan will be forgiven.

·       The loan is also retroactive. Workers who have already been laid off can be brought back onto payrolls.  

·       Small businesses can find these details as well as apply at sba.gov/coronavirus.

 

Since President Trump was elected, he has always fought for the American worker. Now with an unprecedented global crisis affecting every single American, President Trump’s administration has provided a much-needed lifeline.

 

Bottom Line: President Trump and Iowa Senators Chuck Grassley and Joni Ernst are committed to making sure small businesses in Iowa and their workers, the backbone of America, are able to get back up and running once the economy reopens, putting our country in the strongest possible position to come back stronger than ever.

Author: Press Release