Knowledge and Insights
On April 24, 2020, President Trump signed another Coronavirus relief package into law that included an expansion of the Paycheck Protection Program (PPP), making an additional $310 billion available to qualified applicants. The Small Business Administration began accepting new PPP applications on Monday, April 27, 2020. Although the additional funding is good news for many struggling businesses, various reports suggest these funds are likely to be depleted quickly. PPP applications will be processed on a first come, first served basis starting with borrower applications already in the queue.
Frequently Asked Questions related to the PPP can be found here.
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