South Mississippi businesses discuss Mississippi minimum wage wlox.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wlox.com Daily Mail and Mail on Sunday newspapers.
Second round of Paycheck Protection loans now available
Second round of Paycheck Protection loans now available By Chancelor Winn | January 11, 2021 at 8:11 PM CST - Updated January 12 at 7:15 AM
PASCAGOULA, Miss. (WLOX) - Small businesses can start applying for new Paycheck Protection Program loans as a part of the latest COVID-19 relief package, which includes $284 billion for additional lending to eligible businesses.
This week, Merchants and Marine Bank President and CEO Clayton Legear said only first-time Paycheck Protection Program loan applicants that experienced a quarterly revenue loss of at least 25% in 2020 will be eligible to apply.
“You can look at any corner. Quarter one of ’19 to quarter one of 2020 or any other quarter thereof, and if you’ve seen a drop in your income of over 25%, you would qualify for round two,” Legear said. “So that means a second chance for many businesses who may not have been allowed to access round one.”