The PPP ends today. Find out what's next...
Posted 06/30/2020

From Inc. This Morning --Cameron Albert-Deitch, Reporter, Inc.

When the Paycheck Protection Program sunsets at midnight Eastern time tonight, the business stimulus program will have reached historic numbers: more than $518 billion in potentially forgivable loans, given to more than 4.7 million U.S. businesses.

It may not be enough. The continuing spread of Covid-19 is forcing many businesses across the country to re-shutter or remain closed. Some companies that took PPP loans are now running out of those funds, and they’re unable to apply for more from the program’s remaining $125 billion due to a one-loan-per-company restriction. So after today, what is going to happen?

In recent weeks, lawmakers increasingly have been supporting a new bill: the Prioritized Paycheck Protection Program Act, or P4, which would open up funds to small businesses that have already exhausted their PPP loans, or are on track to do so. In its current form, the bill has much stricter eligibility requirements than the PPP, including some notable ones that could satisfy many small-business owners.

Read our story to learn what to expect from the P4--and when it could be passed into law.

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Newcomer Guide
Chamber Directory & Map
These premier Chamber publications are widely distributed throughout Nacogdoches County and beyond!
© Copyright 2005-2020 Nacogdoches County Chamber of Commerce. All rights reserved.
2516 North St., Nacogdoches, Texas 75965 • (936) 560-5533
Unless otherwise noted, no part of this website may be reproduced without written permission.