With many businesses still struggling because of the pandemic….the second round of PPP opens this week.
The Small Business Administration is reopening its Paycheck Protection Program with some new rules and guidelines.
The money is part of the $900-billion dollar COVID-19 relief bill passed the end of last year.
The new funding will give businesses that missed out last year another chance to apply.
The SBA is prioritizing applications from smaller community banks to start and larger lenders in the coming days, with an emphasis on helping minority, women and veteran-owned businesses.
There’s a two-million-dollar cap per business this time, the cap was 10-million last year…..and the money is for businesses with 300 employees or less.