LAS VEGAS (KTNV) — The House of Representatives approved a $484 billion bill to help small businesses, including $310 billion for the Payroll Protection Program, also known as PPP, as well as aid for hospitals and testing.
And there are some changes compared to the first round of funding that the Small Business Administration received, as some controversy against larger corporations who were able to access funds designated for small businesses.
Nevada Representative Dina Tutus said that $60 billion has been set aside specifically for credit unions and community banks, which loan to small businesses. Also, companies with minority and women ownership will be the priority of the group.
"There are many family-owned businesses in the minority community, and that's why we want to make sure that the money set aside goes directly to them," said Tutus.
Friday, the congresswoman spoke to members of the Latin Chamber of Commerce to address the issues. Titus also talked about the stimulus checks that people have been receiving due to the pandemic. She said she is aware that the money might not be enough for the community, which means more money could be needed in the future.
"Already in the works is a fourth bill that would be about the long term recovery. That would be increased funding for food stamps and other programs. Maybe additional individual payments as well," Titus said.
Titus encourages owners to apply for the Payroll Protection Program and other options that the Small Business Administration is offering during the pandemic.