New and certain existing borrowers will soon be able to take advantage of the re-opening of the Paycheck Protection Program.
The U.S. Small Business Administration and Treasury Department has announced that access to capital through First Draw PPP Loans will begin through community financial institutions on Monday.
Second Draw PPP Loans will begin on Wednesday and the program will open to all participating lenders shortly after that. Updated guidance on changes to the program was released earlier this month.
Up to $284 billion towards job retention and other expenses is available through March 31st. For more information on this program, visit the websites of the U.S. Small Business Administration or Treasury Department.