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Sunday, May 19, 2024

Montana taverns and casinos to be eligible for Paycheck Protection Program

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The Small Business Association announced that taverns and casinos will not be eligible for COVID-19 relief loans. | Pixabay

The Small Business Association announced that taverns and casinos will not be eligible for COVID-19 relief loans. | Pixabay

The Small Business Association announced on April 14 that taverns and casinos would be eligible for loans that provide COVID-19 relief. 

A federal COVID-19 relief package offering loans to businesses and organizations throughout the country allocated $350 billion specifically for small businesses, according to Yellowstone Public Radio

But taverns and casinos weren't eligible for federal loans, according to Yellowstone Public Radio. Montana Sens. Steve Daines and Jon Tester and Congressman Greg Gainforte advocated for taverns and casinos to be able to receive COVID-19 relief as well, according to Yellowstone Public Radio. 

On April 14, the Small Business Association said that taverns and casinos would be eligible for Paycheck Protection Program loans, but only if at least half of their income didn't come from gambling, according to Yellowstone Public Radio. 

Of the $350 billion in federal loans, Montana small businesses received approval for more than 10,000 loans for a total of $1.3 billion, Yellowstone Public Radio reported, and on April 13, almost $250 billion in loans through the PPP were approved for small businesses throughout the nation. 

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