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Consumer

New Paycheck Protection Program loans

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Published 7:26 PM

Help is on the way for small businesses

Applications are now open for the paycheck protection program. Small businesses can apply for potentially forgivable federal loan.

PPP has some new changes. For example, the loan maximum is now $2 millions dollars compared to the previous $10 million.

Small businesses are eligible to receive a loan if they have not before and even a second one, however, not every business will be eligible.

Relief could not come soon enough for hard-hit businesses across the country. This new loan is possible due to the latest COVID relief package signed into law in December.

The legislation included $284 billion for additional lending to businesses, including those who already received a loan months ago.

Article Topic Follows: Consumer

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Mercedes Martinez

Mercedes Martinez joined the KSWT team as anchor/producer in October 2020. You can catch her on 13 On Your Side at 4:00pm.

Reach out to Mercedes at mercedes.martinez@kecytv.com.

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