WASHINGTON, D.C. – U.S. Senate negotiators came to agreement early this morning on a proposed Coronavirus Stimulus Package.
The U.S. Senate will consider the bill on the floor later today. Senators are awaiting the final text. The U.S. House of Representatives hopes to move this bill by unanimous consent but is prepared to do extended voting to allow House members to vote in safe intervals.
Important for automotive repairers are small business loan provisions that have now increased to $367 billion in addition to what funds were already appropriated for the Small Business Administration. ASA will review the final text when available today to determine the favorable provisions for automotive repairers.
Although there are programs available now at SBA, the new stimulus legislation, once final, should make significant changes in the loan programs that are favorable to participants.