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Beginning Tuesday (January 12th) community financial institutions can submit First Draw PPP loan applications ...

WASHINGTON – The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, re-opened the Paycheck Protection Program (PPP) loan portal today at 9 am ET. SBA is continuing

Paycheck Protection Program: Who Can Get It, And How It Works With the latest COVID-19 relief package including $284 billion for small business loans under the Paycheck Protection Program (PPP), KHTS has compiled a breakdown of who can apply for these loans, and how they work. As part of the most recent COVID-19 relief package signed at the end of December, $284 billion was allocated for PPP loans, providing much-needed relief to struggling small businesses across the country. Under the PPP, small business owners apply for the loan with a bank, which then either approves or denies that loan. ...

Lowcountry businesses are hoping to get approved for a second round of Paycheck Protection Program relief loans after the loan portal reopened this week.

To embed, copy and paste the code into your website or blog: The President signed new stimulus legislation into law on December 27, 2020.  The new law, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, P.L. 116-260 (“Economic Aid Act”), authorizes new and additional PPP loans and modifies the CARES Act for this purpose. The Economic Aid Act authorizes funds of $284.5 billion for PPP loans, and which includes $35 billion for first-time borrowers.  The United States Small Business Administration (SBA) and the United States Treasury also issued new guidance interp...