$310 Billion in Additional Funding!
Maybe you missed the first round of Paycheck Protection Program (PPP) loans for small-business owners, but have been hearing about it in the news. Due to the high demand, the government just opened up another round of $310 Billion for small business. If you missed the first round, maybe your business didn't quality or you've been unsure how to proceed, we suggest that you use the SBA. They have a great resource section that addresses the COVID-19 National response, as well as how you can protect your business at the local level. This includes guidance for businesses and employees as well as funding options including sample forms, so you can make the correct decisions for your business.
Additionally in this round of funding, the government has allocated $60B of the funding for local and small financial institutes provide PPP loans. This is designed to provide better communication and support for businesses with 10 or less employees. Even if you have a current application open with a bigger bank, its still recommended that you touch base with your local financial institution.
Visit https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources for more information.
We hope this information helps - Stay safe!
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