Paycheck Protection Program (PPP) Funds Still Available
On April 27, 2020, the Federal Government replenished the Paycheck Protection Program with $310 billion in additional funding after the first round provided more than $350 billion in loans to small businesses. We are more than a month into the second round of PPP funding, and more than $120 billion remains for additional PPP loans.
PPP loans were authorized specifically by Congress to provide relief to small businesses during the coronavirus pandemic as part of the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act. If your business has not applied for a PPP loan, you should contact your financial lender for additional information or visit https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program.