Second Round of PPP Loans Now Available
The second round of PPP funding has begun. Call it PPP2, if you will.
And some banks started taking applications for the Paycheck Protection Program on January 11. The second round of PPP funding includes $284 billion, and $60 million of that is for businesses that didn’t get a loan the first time.
PPP is a forgivable that’s designed to help struggling small businesses keep employees on their payroll through the coronavirus pandemic. If a borrowing small business spends the money it gets through a PPP loan, it doesn’t have to be paid back to the bank.
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