The U.S. Small Business Association will resume accepting applications for the Paycheck Protection Program from participating lenders on Monday, April 27, 2020, at 10:30 a.m.
Businesses interested in participating, should apply as soon as possible for PPP.
The first round of federal CARES Act funding ($349 billion) lasted about a week. The new round of $310 billion in funding is expected to last four to six days.
On April 24, 2020, an additional $250 billion was allocated for the Paycheck Protection Program (PPP) to help small businesses and workers, and an additional $60 billion was allocated to replenish the Economic Injury Disaster Loans (EIDL).
With the additional funding provided by the new COVID-19 relief package, SBA will resume processing EIDL Loan and Advance applications that are already in the queue on a first come, first-served basis.
To learn more about the relief options available for businesses through U.S. SBA, click here: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources#section-header-0
