WASHINGTON, D.C. (NMB) – The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, has reopened the Paycheck Protection Program for new borrowers and certain existing PPP borrowers.
On Monday, only community financial institutions were initially able to make First Draw Loans. The program will soon open to all participating lenders.
In this round of the PPP program, $284 billion dollars are prioritized toward job retention and certain other expenses through March 31st.
Those that own or operate a small business are strongly encouraged to look into this opportunity.
For more information, visit sba.gov/ppp.
