Congress Earmarks More Money for Paycheck Protection Program

April 24, 2020

Congress has appropriated an additional $321 billion for the CARES Act’s Paycheck Protection Program (PPP), plus an additional $60 billion for Coronavirus-related Economic Injury Disaster Loans (EIDL). 

The Auto Care Association is urging tire dealers to apply for available loans. “We anticipate that this funding will be exhausted within a matter of days,” the association said today in a letter to its members.

"Please be aware that the Small Business Administration’s Small Business Development Centers are located throughout the country and are there to provide, at no cost, financial counseling advice. Whether it is assistance with a loan application or counseling to help you prepare for the coming months, these centers are a great resource for you to explore.   

“Some members of Congress are also alerting their constituents even to state and local COVID-19-related programs that are often overlooked. If you do not know who your representative is, you can easily locate him or her by visiting:”