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Second round of PPP loans for small businesses now taking applications

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Posted at 11:26 AM, Jan 11, 2021
and last updated 2021-01-11 13:29:03-05

Once again the federal government is rolling out another lifeline for businesses impacted by the pandemic.

Loan applications are now being accepted for the Paycheck Protection Program.

This time around, Congress has approved more than $280 billion in relief funds for the second roll out.

It’s important to note, although the program is reopening not all lenders will be able to process and issue funds immediately.

The program is giving priority to smaller community based lenders who work with low income communities and minority owned businesses.

For business owners who have already received a PPP loan, you can start applying for a second loan of up to $2 million on Wednesday.

The program will open up to all lenders later this week on Thursday.

The deadline to apply for a PPP loan is March 31.

This story originally reported by Kamrel Eppinger on WPTV.com.