NLBMDA Applauds the House for Passing Additional COVID-19 Business ReliefApril 24th, 2020 by Emmariah Holcomb
The National Lumber and Building Material Dealers Association (NLBMDA) issued the following statement applauding the House of Representatives for passing NLBMDA-backed legislation to immediately replenish the small business loan programs including the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL):
“NLBMDA is pleased to see the House act swiftly to pass additional loan funding and calls on President Trump to quickly sign this into law,” said Jonathan Paine, NLBMDA CEO and president.
The bill, previously passed by the Senate, will provide;
- $310 billion cash infusion for Paycheck Protection Program (PPP);
- $50 billion for Economic Injury Disaster Loans (EIDL);
- $10 billion for EIDL grants;
- $25 billion for testing, and
- $75 billion for hospitals.