Second round of funding for PPP includes $280 billion, focusing on smaller business
KTRK
HOUSTON, Texas (KTRK) The Paycheck Protection Program is back, and this time it s recalibrated to help small businesses through smaller banks rather than helping huge corporations, which were criticized for seizing funds the first time around.
The new round of funding for PPP includes more than $280 billion. It s run by the Small Business Administration, which is promising this revival will be more accurately targeted to those who need it most.
With massive job losses and business closures linked to the pandemic, many small business owners who were able to join the program last year, before it ran out of money, credit PPP with saving their livelihoods.