Small businesses in the U.S. are hurting, and many are hoping a federal stimulus deal will include a new round of Paycheck Protection Program loans.
On Monday, a bipartisan group of senators unveiled a $908 billion coronavirus relief package that includes a second PPP round.
Before the announcement, the American Institute of CPAs urged fast renewed funding of PPP and other relief programs.
“Small businesses, the engine of our economy, continue to struggle,” AICPA President and Chief Executive Barry Melancon said in a statement. “We strongly support Congress’s efforts to deliver more relief funding as soon as possible.”
CPA firms should be gearing up to assist small businesses whose survival depends on a new round of PPP funding, the AICPA and its business and technology arm, CPA.com, recommended, urging small businesses to reach out to their advisors.