Dear Friends and Neighbors,
I wanted to take a moment to share some updates with you regarding the reopening of the Paycheck Protection Program (PPP), a new government report regarding major issues facing the state during the 2021 legislative session, equal opportunity scholarships for high school students, and a new drive-through COVID-19 testing site in Monroe.
SBA and Treasury Announce PPP Re-Opening; Issue New Guidance
The U.S. Small Business Administration has reopened the Paycheck Protection Program (PPP) this week for new borrowers and certain existing PPP borrowers. Initially, only community financial institutions will be able to make First Draw PPP Loans today, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter.
You can find further details of the loan program and instructions on how to apply on the SBA’s website, here.