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On June 5, President Trump signed the bipartisan Paycheck Protection Program Flexibility Act into law. The new law, led by Representative Dean Phillips (D-MN) and Representative Chip Roy (R-TX) passed the House of Representatives with near-unanimous support last week and passed the Senate by unanimous consent earlier this week. Click HERE to read more.
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Updates to the Paycheck Protection Program
On June 5, President Trump signed the bipartisan Paycheck Protection Program Flexibility Act into law. The new law, led by Representative Dean Phillips (D-MN) and Representative Chip Roy (R-TX) passed the House of Representatives with near-unanimous support last week and passed the Senate by… Learn more
Most Co-ops Eligible for Paycheck Protection Program
The U.S. Small Business Administration published an interim rule-making clear that many cooperatives are eligible for the Paycheck Protection Program established under the CARES Act, the historic $2 trillion stimulus bill.
You can find an eligible lending institution near you by visiting: https://www.sba.gov/paycheckprotection/find.
If your co-op is ineligible for a PPP loan, you can still qualify for an Economic Injury Disaster Loan, for which all cooperatives are eligible. More information about PPP is available on NCBA CLUSA’s COVID-19 resource page.
Indiana Cooperative Development Center
225 S. East Street, Suite 252
Indianapolis, IN 46202
Phone: 317.692.7707
Email: info@icdc.coop
ICDC is an equal opportunity employer and provider.