Paycheck Protection Program

The gates are open for a second wave of forgivable loans meant to help small businesses keep their employees. Dollars from the Paycheck Protection Program (PPP) can also be used to help offset costs brought on by COVID-19.

Last night, Congress passed a COVID-19 relief package. In it, more than $284 billion will go to the federal Paycheck Protection Program (PPP). It gives loans to small businesses who then use that money to pay their employees. The program's goal is to prevent layoffs for businesses impacted by the pandemic. The program stopped accepting applications in early August, but now, if President Trump signs the COVID-19 aid package, business owners could once again apply for PPP loans.

Lawmakers in Congress are debating a second COVID-19 relief bill, and with that, more funds for the Paycheck Protection Program. In Florida, small businesses have exhausted money from the program and are waiting for more aid.

Florida U.S. Senator Marco Rubio is pushing for Congress to approve a second round of Paycheck Protection Program money. It's a loan meant to help small businesses impacted by COVID-19 pay their employees.

Florida Democrats say they're feeling whiplash after President Donald Trump demanded approval of COVID-19 aid, and later halted negotiation on a comprehensive relief package. Now the president is taking to social media to call for relief through standalone bills.

New data on businesses that received federal dollars from the paycheck protection program is out. The numbers released Monday by the U.S. Small Business Administration (SBA) show more than 4,000 Tallahassee businesses received loans.

The U.S. Small Business Administration is the federal agency overseeing the Paycheck Protection Program. The agency released a statement today saying that it will be reviewing all loans in excess of more than 2 million dollars. Other COVID-19 relief loan programs may also be reviewed. This comes as larger chains are returning their loans after facing criticism for taking money meant for small businesses.

Another $321 billion will be put into the federal paycheck protection program. It ran out of money in less than two weeks, shutting out many small businesses that needed relief. WFSU reached out to 74 local businesses, and 25 responded. Across the board, people are frustrated, concerned, but also hopeful.

The National Federation of Independent Business (NFIB) is raising concerns that the federal Paycheck Protection Program could soon run out of money.…

Nearly all banks in Florida can now process applications for the federal paycheck protection program. Before, only certain banks were approved to give out…