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Deadline to apply for PPP loan is tomorrow

29 June 2020 Covid19 Luray/Page County Shenandoah County Front Royal/Warren County Winchester Frederick County Clarke County News

The deadline to apply for a loan under the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP) is tomorrow, June 30.

According to the SBA’s latest data released June 25, there is still billions in loan money available.

The PPP provides low-interest loans to small businesses with up to 500 employees, as well as to self-employed entrepreneurs. Business owners and entrepreneurs who receive loans can later apply to have some or all of the loan forgiven by the SBA if they meet certain criteria.

Since the program was first announced in March, the SBA has made additional updates to the program such as extending the amount of time in which businesses can use their loans and offering more leeway on how to spend funds.

Visit sba.gov for more information.

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