Senators reveal PPP 2 aid, what it implies for NH little firms

Subsequent the passage of the latest federal COVID-19 aid bill, $284 billion will be created out there to corporations in the new Paycheck Defense System as of Friday.

On Thursday, U.S. Sens. Jeanne Shaheen and Maggie Hassan held a digital panel with point out company leaders to reveal how the method, dubbed by many as PPP 2, will be rolled out for tiny businesses and nonprofits.  

PPP 2 attempts to prioritize directing money reduction to small businesses. In excess of the summer, a single of the big grievances with the initially PPP about was larger sized organizations, multinational organizations and tax-exempt corporations, like churches, received hundreds of tens of millions of aid funds though several tiny corporations had been remaining with inadequate help relative to the economical losses they endured thanks to the COVID-19 pandemic.

“I look at this offer as a brief-phrase, crisis proposal to get us via the upcoming few months till the new Congress and the following administration can get up and managing,” Shaheen said Thursday. “Then, we can glance at what extended-phrase demands to be finished to get ahead of this coronavirus, which truly is important, and then to get the economy up and working yet again and make positive our tiny companies survive.”