Billions In PPP Loans Still Available But Applications Are Due By Saturday
Thursday, August 6, 2020
Photo by Nicholas McVicker
For many small businesses, the pandemic has been a crushing blow. Billions of dollars in loans and grants are coming down the pipeline to help them, but is the money getting to the right places?
The deadline to apply for one major source of money, federal Paycheck Protection Program (PPP) loans, is Aug. 8 and there is still money left in the pot.
Businesses in San Diego County have received about $1 million through PPP loans according to the San Diego and Imperial County’s Small Business Development Center network but more than $110 billion remains in the national fund.
Business advisors from the Small Business Development Center are available to work with business owners to help them determine their eligibility for a loan. The SDBC has resources available in 15 languages.
Danny Fitzgerald, acting director of the SDBC, said his organization wants to make sure particularly very small businesses are made aware that they may still be eligible for a loan, even they tried to get a loan in April and were denied by their bank.
"Please come see us, we can help you find a lender and get a loan," Fitzgerald said.
Fitzgerald joined KPBS Midday on Thursday to talk about PPP loans.
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