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Industry insiders report that a long-delayed COVID aid package is close to being cemented. This package will help businesses hit hard by the pandemic, including the travel and meetings industry.
This additional $310 billion will go much more quickly than the first round, "as the pipeline is full of those who applied and missed out initially, as well as others who have since located a bank willing to take their application."
Major adjustments and more aid are needed as the CARES Act is not enough and small businesses, including local non-profits, need help.
Meeting professionals hope the CARES Act will help, but some have had difficulty getting funding and others say it will be just a drop in the bucket.