Following Passage of Latest Coronavirus Relief Package, Casten Hosts Webinar for Small Businesses Affected by COVID-19
Downers Grove, IL – U.S. Representative Sean Casten (IL-06) hosted an informational webinar with the U.S. Small Business Administration (SBA) Illinois District Director, Robert Steiner, to provide resources and answer questions for small businesses across Illinois’ 6th District affected by the coronavirus (COVID-19) pandemic.
Casten provided an update on the latest $484 billion coronavirus relief package, which was signed into law. The bill provides additional funding for the Small Business Administration (SBA)’s Paycheck Protection Program (PPP).
A video recording is available here.
Casten said, “Small businesses employ almost half of the U.S.’s total workforce, making them integral to both our economy and community. Advocating for resources to support businesses during this pandemic is of the utmost priority and I will continue to provide resources for our local businesses during this uncertain time.”
Casten voted for H.R. 266, The Paycheck Protection Program and Health Care Enhancement Act.
Specifically the bill:
- Makes improvements in the Paycheck Protection Program (PPP) by setting aside $60 billion within PPP to ensure access to this assistance for many small businesses in underserved rural and urban areas that have been unable to participate in the program so far.
- Strengthens the Paycheck Protection Program by providing $310 billion in additional funding.
- Expands small business support beyond the PPP program by securing $50 billion for SBA disaster lending, translating into more than $350 billion in loans, and $10 billion for SBA disaster grants.