Small enterprise COVID-19 aid program runs out of cash

NEW YORK (AP) – The main government aid program for COVID-19 for small businesses is out of money. The Small Business Administration announced Wednesday that the paycheck protection program was exhausted. As of Sunday, the PPP had issued nearly 10.8 million loans valued at more than $ 780 billion since April last year. The program, which ran out of money twice and was reimbursed twice by Congress, was due to expire on May 31. It is not yet known whether lawmakers will approve another round of funding. The SBA said in a statement that approved loan applications would continue to be funded.

Comments are closed.