With just-passed legislation adding $310 billion in new funding for the Paycheck Protection Program (PPP), the Small Business Administration will resume accepting PPP loan applications on Monday, April 27, 2020, at 10:30 a.m. EDT from approved lenders on behalf of any eligible borrower.
If you own a small business that has been affected by the COVID-19 pandemic, you should strongly consider applying for the PPP loan program. But it is imperative that you do so immediately when the program reopens on Monday morning. It is anticipated that this additional funding will be exhausted in under ten days.
If you have questions regarding obtaining loans through the Paycheck Protection Program or have any other concerns or issues related to the COVID-19 pandemic, please contact the Business Law Practice Group at Kreis Enderle today.