The move extends the Paycheck Protection Program (PPP) for another five weeks allowing small businesses to access low-interest loans. So far, the Paycheck Protection Program has given out $520 billion in loans to over 5 million businesses nationwide, providing relief for payroll costs during closures designed to mitigate the Coronavirus outbreak. The program was set to … [Read more...] about Congress extends the Coronavirus Small Business Loan deadline through August 8th
PPP
SBA will resume accepting PPP applications on April 27
U.S. Small Business Administration has announced that it will resume accepting Paycheck Protection Program applications from participating lenders on Monday, April 27, 2020 at 10:30am EDT. This comes after the President signed the bill providing an additional $320 billion to refill the Paycheck Protection Program on Friday, April 24th. The original outlay for the Paycheck … [Read more...] about SBA will resume accepting PPP applications on April 27
PayPal, Intuit and Square Capital can now offer loans to small businesses through the Paycheck Protection Program
PayPal, Intuit and Square Capital are some of the non-bank institutions that are now also approved to participate in the SBA's Paycheck Protection Plan, which is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for … [Read more...] about PayPal, Intuit and Square Capital can now offer loans to small businesses through the Paycheck Protection Program
Bank of America has already received over 122,000 PPP loan applications from small businesses totaling over $27 Billion
By mid-morning of only the second day since the loan applications under the Paycheck Protection Program (PPP) began, Bank of America reported that over 122,000 small business clients have already applied for the program, totaling over $27B in loans. Bank of America has also expanded the process to include all current business account holders, irrespective of whether … [Read more...] about Bank of America has already received over 122,000 PPP loan applications from small businesses totaling over $27 Billion
US Govt’s $2 Trillion Relief Package and PPP loan details for SMBs
Letting go of some of your amazing and hard-working staff is a very tough call for any business, especially in these difficult times. Now, there is some relief announced by the government as part of their $2 Trillion Relief package. If you had to let go of your employees in the last couple of weeks in an effort to stay afloat during these uncertain times, please read on. The US … [Read more...] about US Govt’s $2 Trillion Relief Package and PPP loan details for SMBs