(WRIC) — Struggling businesses in need of financial assistance as a result of the coronavirus pandemic can still apply for the Paycheck Protection Program (PPP). According to the Small Business Administration, billions of dollars remain for borrowers in need.
The second round of PPP, which kicked off on April 2 “has awarded 2,378,057 loans worth $181,158,888,644 as of close of business May 5. More than 900,000 of those loans, worth $57,296,660,188, were issued by small lenders.”
Paycheck Protection Program coverage:
- Here’s how small businesses in Central VA can learn about COVID-19 federal relief
- Small business loan program hopes to provide financial relief
- Small business owner says Richmond loan program offers little relief
- With small businesses struggling, Congress negotiating more funding for loans
- Chesterfield business owners still waiting for Paycheck Protection Program loan: ‘It’s ridiculous’
“The Paycheck Protection Program is working,” said SBA Mid-Atlantic’s acting Regional Administrator Steve Bulger in a release Wednesday. “For it to work for you and your employees, you must submit an application through a participating PPP bank, credit union, CDFI or online lender.”
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