The deadline to apply for the PPP program is approaching. The original deadline to apply for the PPP was Tuesday, July 30. However, $130 billion still remained in the fund out of $660 billion allocated. Businesses will now have until Aug. 8 to apply for the assistance.
The PPP lets businesses get direct government subsidies for payroll, rent and other costs. The subsidies come as federal loans, but those loans can be forgiven if businesses use at least 60% of the funds for payroll.
In addition, EIDL loans are also still available. These loans are available for qualified agricultural and small businesses. More details can be found here.
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