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This week, the Paycheck Protection Program (PPP) reopened so small businesses hit hardest by the COVID-19 pandemic can apply for additional financial relief. On Monday, January 11, the PPP opened for small, community-based lenders to issue PPP loans to small businesses that did not receive a PPP loan during the first round.

As of Wednesday, January 13, the PPP reopened for small businesses to apply for a second round of relief. Eligible businesses are those that have exhausted their first PPP loan, have 300 or fewer employees, and have experienced at least 25% revenue loss.

Starting today, Friday, January 15, all PPP lenders with $1 billion or less in assets will be eligible to issue first and second round loans. Beginning Tuesday, January 19, all lenders regardless of asset size will be permitted to issue PPP loans.

For more information from the Small Business Administration on how to apply, please:

CLICK HERE

PPP was created under the CARES Act economic stimulus package passed by Congress in March and replenished with a supplemental bill passed at the end of the 116th Congress. This program is designed to provide cash-flow to small businesses impacted by the COVID-19 health crisis.


I will continue to update businesses in Georgia’s 11th Congressional District on important federal business-related response efforts due to COVID-19 as they become available. Please do not hesitate to contact my office if you have any questions or concerns and be sure to sign up for my regular weekly email newsletter through my website at www.loudermilk.house.gov.