Archives     Advertise     Editorial Calendar     Subscribe     Contact Us    


Protecting Small Businesses


 
Senator Lamar Alexander

America's small businesses are the backbone of our nation's economy, but too many are struggling to stay in business as a result of the COVID-19 outbreak. The good news is that sweeping relief is on the way.

The Paycheck Protection Program (PPP) - a nearly $350 billion program - which can help small businesses cover 8 weeks of payroll costs, most mortgage interest, rent, and utilities - is now open for applications.

The federal government has temporarily shut down the economy because of the COVID-19 coronavirus, and the federal government must help those who are hurt by it.

The first goal of the CARES Act - legislation passed by Congress and signed into law by President Trump on March 27 to combat the impact of COVID-19 - was to keep paychecks coming to American workers. The Paycheck Protection Program aims to do just that. If an employer maintains its payroll, then the portion of the loan used to cover payroll costs, most mortgage interest, rent, and utilities can be forgiven for the 8 weeks after the loan is made.

In other words, the Paycheck Protection Program offers small businesses a guaranteed loan that can be forgiven if they keep workers employed, leases paid and businesses open. It is also retroactive to February 15, 2020, which will help bring workers who may have already been laid off back onto payrolls. Small businesses with less than 500 employees and certain nonprofit organizations, veterans' organization, and tribal businesses, as well as individuals who are self-employed or are independent contractors, may also be eligible.

Small businesses interested in taking advantage of the Paycheck Protection Program can learn more here: https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses

And here are a few additional resources for Tennesseans:

Small Business Administration (SBA) -

• General Information - https://www.sba.gov/

• Economic Injury Disaster Loan Application - https://covid19relief.sba.gov/#/

List of Tennessee Small Business Development Centers - https://www.alexander.senate.gov/public/index.cfm/help-for-small-businesses

These are trying times, but Tennesseans are resilient. As chairman of the Senate health committee, I will continue to work to bring much needed relief to Tennessee as we fight to deal with the impact and containment of this disease.

 
Share:

Related Articles:


Recent Articles

New Study Looks at Cost Impact of OTC Birth Control

A new study explores the impact on unintended pregnancies, consistent use of progestin-only OTC birth control pills at various price points.

Read More

Behavioral Health in a Time of Social Isolation

Last month, the Nashville Health Care Council brought together experts for a virtual panel discussion on behavioral health in the midst of social distancing orders.

Read More

COVID-19 & Mental Health

As the virus takes its toll, providers are finding new ways to reach patients and preparing for the mental health fallout ahead.

Read More

Self-Care on the Front Lines of Coronavirus

Physicians, nurses, respiratory therapists and the full complement of support staff at hospitals and clinics are battling coronavirus on the front lines. When caring for others, it's all too easy to forget to take care of yourself.

Read More

Sharing Best Practices in Behavioral Health

Nashville-based online video service provides evidence-based training to public and providers.

Read More

May is Mental Health Month

May is Mental Health Month with excellent resources from national organizations for both patients and providers.

Read More

Business Insights

Read More

Celebrating 15 Years of Incredible Leaders

Following are the 15 classes of Women to Watch. Some of these trailblazers have happily retired after a career of service. Others have moved to other positions and taken up new challenges since they were first recognized.

Read More

New Study Looks at Cost Impact of OTC Birth Control

A new study explores the impact on unintended pregnancies, consistent use of progestin-only OTC birth control pills at various price points.

Read More

AHA Releases Scientific Statement on CAD with Type 2 Diabetes

A new AHA scientific statement explores more aggressive clinical options for the patient-centered management of individuals with both type 2 diabetes and coronary artery disease.

Read More

Email Print
 
 

 

 


Tags:
None
Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: