$284 billion available to help small businesses starting today

The next Paycheck Protection Program starts taking applications today.

News 12 Staff

Jan 11, 2021, 3:16 PM

Updated 1,222 days ago

Share:

Starting 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.


More from News 12