Fiscal Stimulus & PPP
The full economic impact of the COVID-19 health crisis is unknown. That is why it is critical to separate facts from myths and not succumb to hysteria and purely fear-based execution. With that in mind, the path through this unprecedented humanitarian crisis begins with a global mission to defeat the ongoing pandemic, from which economic recovery can begin. To date, we have seen swift and substantial actions by the Federal Reserve and Congress to support this goal.
Congress recently approved a record $2.2 trillion fiscal stimulus offering much needed lifeline to businesses and consumers. Funding includes provisions for public health infrastructure and direct payments to individuals as well as support to corporations and small businesses. Paycheck Protection Program (PPP) offers $349B in forgivable loans (max. $10M per business) to help prevent job loss and failure of small businesses due to the COVID-19 pandemic (approx. 120 million Americans are employed by small businesses, of which many are currently experiencing severe economic hardships due to “stay-at-home” mandates. Ultimately, the PPP will help keep employees on payroll and support the broader economy. Expanded unemployment benefits will also help households cover their personal expenses as we move closer towards beating this health crisis.
When is the last time you have evaluated your own marina and investment portfolio?
(VIDEO: Fiscal Stimulus & Paycheck Protection Program (PPP))
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