You Have Less Than 2 Weeks to Benefit From This COVID-19 Relief Program
Though the U.S. economy on a whole has felt the wrath of COVID-19 -- to the point where we're officially in a recession -- small businesses have been particularly hard-hit. Early restrictions caused many local establishments to close their doors, and while some were able to adapt their business models by pivoting to online service, others have suffered catastrophic financial losses over the past three months. Fortunately, relief programs have been available for small businesses that have been impacted by COVID-19; perhaps the most notable of these is the Paycheck Protection Program (PPP).
The purpose of PPP loans is to allow businesses to retain and keep paying staff in the face of economic uncertainty. What makes them particularly attractive is the fact that they're potentially 100% forgivable. And while the PPP program notably ran out of money during its first go-round, a second influx of funding opened the door to more applicants in April.
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Source Fool.com
