Starting on Monday, the U.S. Small Business Administration (SBA) has reopened the Paycheck Protection Program.
According to the SBA, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter.
SBA said PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention.
For more information on SBA’s assistance to small businesses, visit their website here.
