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Idaho small businesses shouldn t be penalized because of political differences – Idaho Business Review

Idaho small businesses shouldn t be penalized because of political differences – Idaho Business Review
idahobusinessreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from idahobusinessreview.com Daily Mail and Mail on Sunday newspapers.

Weekly COVID-19 Oversight & Enforcement Report - May 2021 #4 | WilmerHale

4 Reasons to Apply for PPP Right Now

Image: Getty. Illustration: Chloe Krammel Congress may have extended the Paycheck Protection Program through May, but with only $68 billion left in its coffers, the PPP may sunset well before then. That shouldn t deter you.  Here are four reasons to apply for funds as soon as possible: 1. Funds could run out soon. During a March 24 Senate hearing on the efficacy of Covid-19 relief initiatives, Patrick Kelley, of the Small Business Administration s Office of Capital Access, noted that the PPP program could exhaust its funding as early as mid-April. At the time, there was just $79 billion left. Two weeks later, as of March 4, there s just $68 billion left, out of a total of $291 billion.

The Paycheck Protection Program Has a Problem It Will Likely Run Out of Money Before May 31 Deadline

The American Rescue Plan passed in March appropriated an additional $7.25 billion to the PPP, bringing the total to nearly $292 million. As of April 5, the Small Business Administration, which oversees the program, has approved nearly 4 million PPP loans worth about $224 billion, according to the agency. That means about $68 billion is left. The idea of money running out hadn t been top of mind, at least in this round of the program, until just before the extension passed. In a March 24 hearing before the Senate Committee on Small Business Entrepreneurship, Patrick Kelley, associate administrator at SBA s Office of Capital Access, noted that the PPP had about $79 billion left, which would be exhausted by mid-April if applications continued at a similar pace.

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