PPP loans are closing soon Here s how to secure funding before its gone thetimesnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thetimesnews.com Daily Mail and Mail on Sunday newspapers.
Small business owners’ window of opportunity to secure Paycheck Protection Program (PPP) funding is closing quickly.
The program has nearly run out of money and applications are now limited to community financial institutions.
PPP loans were established at the height of the pandemic in 2020 and, as of May 17, $788 billion in forgivable loans had been granted to 11.1 million applicants.
In December, Congress renewed the program with a $292 billion allocation, expanded the list of eligible applicants, and allowed some businesses to return for a second round of funding. When the program was set to expire in March, lawmakers extended the deadline to May 31.