Compromise Coronavirus Package: What it Could Mean for Your Business

compromise coronavirus package


As a national non-bank direct lender we specialize in helping small to midsize businesses finance their growth and create wealth through our SBA 504, SBA 7(a) and low LTV conventional loan programs.

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If you haven’t yet heard of the Compromise Coronavirus Package that was released last Tuesday, September 15th, you’ll want to keep an eye out for more information. This piece of legislation contains a large chunk of money that’s essentially for what some may call “PPP 2.0.”

So far what we know is that the package is a $1.5 trillion plan, and $240 billion of that is reserved for another round of PPP loans. While it’s still in a draft version and we’re not positive about what all the funds will be used for, it’s been clear that the small businesses of America still need help, and they will get it.

With a second round of PPP loans, we are still waiting to see if they will play out the same as before, or if there will be modified qualifications. If your business is in need of another loan, be sure to check back regularly, as we will continue to update you with the information we receive.

At Fountainhead, we are well prepared for this second round and to continue helping as many small businesses as possible.