Johnson: More Help for Small Businesses Headed to South Dakota
Washington, D.C. – U.S. Representative Dusty Johnson (R-S.D.) today applauded a deal that will refill funds for the Paycheck Protection Program (PPP). In South Dakota, more than 11,324 small businesses received funding through the PPP, amounting to over $1.37 billion in loans. The deal is headed to the president’s desk.
“The Paycheck Protection Program has helped thousands of South Dakotans,” said Johnson. “The proof is in the pudding – millions of Americans have remained on payroll because of this program. I’m glad Congress got this done for our small businesses.”
The legislation will replenish the PPP with $310 billion in additional funding. Further, it provides an additional $60 billion for Small Business Administration disaster loans and grant support. It also expands eligibility for farmers and ranchers to apply for the Economic Injury Disaster Loan Program (EIDL). Agricultural businesses with less than 500 employees will be eligible for the EIDL program.