PPP Loans for Small Business Owners.
The Small Business Administration (SBA) has reopened the Paycheck Protection Program (PPP) for small business owners. The program is categorized in two ways for this round. There will be First Draw Loans (for those that have NOT received a PPP loan) and Second Draw Loans (for those that have previously received a PPP loan). These loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.
Visit www.sba.gov or www.treasury.gov for more information and details, including the comprehensive program rules.
Feel free to reach out directly to John Doyle, LLCU Commercial Loan Officer, with any questions you may have regarding qualifications or to start your application. Email John at email@example.com.