An extension to the Paycheck Protection Program (PPP) from March to May allowed more time for small firms and businesses looking to draw from the program for a second time to benefit from it. But without additional funds, the program is expected to dry up soon.

My advice for all small businesses is to truly evaluate the relationship with your financial institution. The dividends will push into perpetuity when fostered well. 

Lenders with less than $1 billion in assets can now submit applications for the second round of the Paycheck Protection Program (PPP) starting today, but borrowers looking to use the program a second time will have more hoops to jump through than they did last year.

Congress clarified some of the confusion regarding Paycheck Protection Plan loans with the $900 billion COVID-19 economic relief package agreed to on Sunday.

State lawmakers praised the coming of the $900 billion federal stimulus package approved by the Senate and Congress this week but noted that much more must be done before the nation recovers from its public health and economic crisis.

Borrowers of the federal Paycheck Protection Program who took loans of $2 million or greater can expect to receive a form from lenders on which they will be required to attest their funds were necessary to sustain the operations of their business during the pandemic,

The focus of the county grants is to help shore up funding for those who missed out on Paycheck Protection Program or Economic Injury Disaster Loan program benefits, said Kathy Henderson, director of economic development at Carbon Chamber and Economic Development Corporation in Lehighton.

Approximately 4,000 Fulton Financial Corporation customers across Pennsylvania received more than $900 million in funding through federal CARES Act Paycheck Protection Program, including hard-hit nonprofit organizations whose mission is to serve others.

Following the enactment of legislation that loosened requirements for borrowers to be forgiven for a Paycheck Protection Program loan, federal administrators this week launched a streamlined application form they say will make it easier for some borrowers to fully realize the forgiveness of their PPP loan.

The changes arrive as many employers near the end of their eight-week coverage period during which they are required use their disbursements to bring back their full-time employee counts to pre-pandemic levels to qualify for SBA forgiveness. The new bill would triple that covered period to 24 weeks.