$284 billion available to help small businesses starting today
The next Paycheck Protection Program starts taking applications today.
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Jan 11, 2021, 3:16 PM
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Updated 1,292 days ago
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298ds agoStarting this morning, businesses hit hard by the
coronavirus pandemic can begin applying for another round of financial help.
The next Paycheck Protection
Program starts taking applications today.
A total of $284 billion is
being allocated to help struggling businesses.
Businesses entering the
program for the first time can have no more than 500 employees, and the
limit for second-time borrowers is 300 workers.
Economists say the second
PPP will once again give the economy a much needed lifeline. “It will mean fewer people applying
for unemployment insurance and more people staying on the job,” says economic analyst Martin Cantor.
There will also be a special
focus on low-income and minority-owned businesses.
The maximum amount that can
be borrowed this time will be $2 million.
The deadline to apply is
March 31.
