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PPP reopens its doors this week. Here are 8 things small businesses need to know.

Source: - Jan 13, 2021

Now that Congress finally got around to it, a new round of the Paycheck Protection Program is resuming this week. If you’re a small-business owner and you want to take advantage of this financing, here’s what you need to know.

1. The program is largely the same.

Under PPP, small businesses can apply for loans to help them keep their employees working despite the pressures of COVID-19. The loan are forgiven when an employer documents that the money has been used properly. The program has proven massively popular. In the first round, an Inquirer analysis has shown, 81,000 businesses in the Philadelphia region received almost $10 billion from it, saving 787,000 jobs in Pennsylvania and South Jersey. That’s one out of every three jobs in the region.

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Category: General Business