Small businesses in Ellis County can receive PPP aid through second draw.
The Paycheck Protection Program is offering a second draw for small businesses that have been hit especially hard during the COVID-19 pandemic, and businesses in Ellis County may be able to take advantage of the program.
According to the U.S. Small business Administration (SBA), "The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. Borrowers may be eligible for PPP loan forgiveness."
Currently, the SBA is offering PPP loans to businesses with fewer than 20 employees and sole proprietors only. This offer will be available for 14 days, from Feb. 24 through March 9 at 5 p.m. ET.
This exclusive offer will give lenders and community partners more time to work with the smallest businesses to submit their applications, while also ensuring that larger businesses will still have plenty of time to apply for and receive support before the program expires on March 31.
To view guidelines and more details of qualifications, visit https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program .