Some Island businesses that rely on tourism say this summer could be worse than 2020, and they’re pressuring Ottawa to continue the federal wage subsidy so they can survive.
Channel3000.com
January 20, 2021 9:28 AM Robin Saks Frankel - Forbes Advisor
Posted:
Updated:
January 22, 2021 10:54 AM
The Paycheck Protection Program (PPP) has reopened to all lenders, and with this fresh wave of funding comes new eligibility requirements and further clarifications around the forgiveness process.
The bipartisan coronavirus relief legislation approved late last year included an additional $284 billion for PPP loans aid designed to help small businesses keep their doors open and continue to pay employees during the pandemic. This new round of loans is available to first-time applicants, as well as those businesses that have already benefited from the program. The most recent legislation also eased loan forgiveness rules, which businesses had earlier said were too burdensome.