Paycheck Protection Program reopens today

A total of $284 billion is being allocated to help struggling businesses.

News 12 Staff

Jan 11, 2021, 1:48 PM

Updated 1,199 days ago

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Starting today, businesses hit hard by the 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.
This time, there will also be a special focus on low-income and minority-owned businesses.
Economic analysts say the second PPP will once again give the economy a much needed lifeline so it can stay afloat until restrictions loosen.
The maximum amount that can be borrowed this time will be $2 million.
The deadline to apply is March 31.


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