President Trump signed into law on Friday, a $484 billion relief package to replenish a popular small business lending program and support hospitals and COVID-19 testing amid the coronavirus pandemic.
Some of the items in the new package include but are not limited to:
- $310 billion for the Paycheck Protection Program (PPP), which ran out of funds late last week
- $60 billion is set aside for small businesses who do not have access to large financial institutions, to be divided between lenders with less than $10 billion in assets and those with $10-$50 billion
- $60 billion for SBA Economic Impact Disaster Loan (EIDL) program
- $75 billion for hospitals
- $25 billion for COVID-19 tests to be divided among federal, state, and local governments, with a requirement for a national testing strategy
- Fixes to previous COVID-19 relief measures, including giving states and localities additional flexibility to use funds allocated to address lost revenues
Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.
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