Date of Publication: June 14th, 2020
The Paycheck Protection Program offered forgivable loans to entrepreneurs whose businesses were affected by Covid-19. Originally it was intended to cover up to eight weeks of payroll costs, rental expenses, utilities and more.
Businesses that received money in April are coming up on the end of their eight-week period. For restaurants and other businesses, it means they’re out of aid before they’re up and running.
Senate Democrats have proposed a new lifeline to allow the hardest-hit firms to apply for a second injection of PPP funding.