Watch Our PPP Reopening Webinar The Paycheck Protection Program (PPP) recently reopened for new borrowers and certain existing PPP borrowers. This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan. Rob Goza, lead economic development specialist from the Eastern PA District Office of the U.S. Small Business Administration, discusses the new PPP guidelines outlined in the Economic Aid Act, as well as other guidance related to financial assistance for small businesses. WATCH WEBINAR DOWNLOAD PRESENTATION
Application Deadline for EIDL Extended The SBA recently announced that the deadline to apply for a COVID-19 pandemic Economic Injury Disaster Loan has been extended to December 31, 2021. To date, SBA has approved $197 billion in low-interest loans, which provide U.S. small businesses, non-profits, and agricultural businesses working capital funds. Economic Injury Disaster Loan applications will continue to be accepted through December 2021, pending the availability of funds. Loans are offered at affordable terms, including a 3.75% interest rate for small businesses and 2.75% for non-profit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. All eligible small businesses and nonprofits are encouraged to apply. Learn more and apply for an Economic Injury Disaster Loan
