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.