Following a dismal December during which American businesses shed a record 140,000 jobs, the Small Business Administration is set to begin rolling out the second round of Paycheck Protection Program loans, offering salvation for some Orlando employers struggling to stay afloat as the pandemic worsens.
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âSecond drawâ PPP loan rules arrive; banks await new applications
Another $284.5 billion is up for grabs as small businesses hurt by the pandemic seek additional relief.
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The U.S. Treasury Department building is viewed from the Washington Monument on Sept. 18, 2019. Late Wednesday, the Small Business Administration outlined new guidance for small businesses hoping for a first or second round of Paycheck Protection Program loans. [ PATRICK SEMANSKY | AP ]
Updated Jan. 7
Another round of Paycheck Protection Program loans is getting closer. But small businesses seeking relief will have to wait a little longer.
Late Wednesday, the U.S. Department of the Treasury and Small Business Administration unveiled new guidance for $284.5 billion worth of federally backed relief loans to small businesses harmed by the coronavirus pandemic. Many of the new transactions will be âsecond drawâ loans from businesses that already got a loan last spring or summer.
Small businesses will get priority for this round of stimulus relief
New ppp loan should benefit small businesses like local single moms.
and last updated 2021-01-02 11:12:18-05
Clearwater Beach pizzeria owner Sam Krupski works longer and harder than ever to keep Samgelo s Pizza afloat.
âSt. Patrickâs Day was the last good day we had,â said Krupski, who credits the regulars for her restaurant s survival.
This single mom says she laid off staff and cut expenses, but still it is not enough to cover overdue bills.
âLots of money going out and not so much coming in,â she said.