Loan program still available for small businesses seeking financial relief

Coronavirus

(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:

“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.”

Click here to apply for the Paycheck Protection Program. Readers can also click here to learn of lenders participating in the Paycheck Protection Program.

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