Matei & Co.

If anyone still needs a resource for the PPP, we've had approvals the day after application with this small bank. They only take applications from businesses in CA though. https://gatewayfsb.streetshares.com/ppp/register

For current Treasury PPP FAQ, visit: https://home.treasury.gov//Paycheck-Protection-Program-Fre

The President signed the 484 billion stimulus bill today. SBA applications re-open Monday! Summary of additional aid: $310 billion for the Paycheck Protection Program $50 billion for the SBA Economic Injury Disaster Loan program $10 billion for the SBA EIDL Grant $75 billion to health providers... $25 billion for Covid-19 testing https://www.congress.gov/bill/116th-congress/house-bill/266 See more

Today the House approved a $484 billion legislation that was passed by the Senate on Tuesday, providing much needed aid. The execution of the PPP has brought much frustration from many small owners who found themselves unable to get their loans approved as the funds ran out quickly. The Treasury Department gave big public companies a May 7 deadline to return their PPP loans, saying that it is not intended for large enterprises with access to capital markets. To access our free Covid-19 resource hub visit: https://www.mateicpa.com/covid_19_info_and_resources.php

On Tuesday the Senate passed a bill for stimulus aid so called phase 3.5 to pump additional funds into the PPP and EIDL programs. It is expected that The House will pass the bill. We are monitoring and will post new developments.