Rep. Jackie Walorski Answers Questions About Paycheck Protection Program
The U.S Small Business Administration began accepting applications again Monday morning for the Paycheck Protection Program. Representative Jackie Walorski answered questions from Michiana residents via Zoom about the loan program.
The Paycheck Protection Program is forgivable loans meant to help small businesses keep employees on the payroll throughout the coronavirus crisis.
The first round of funds approved for the loans ran out recently. Another $310 billion was just approved by the federal government.
During the Zoom meeting, several residents asked Walorski what would happen if the money ran out again.
She says that issue would be addressed when and if it happens. The forgiveness process for the PPP loans is still being developed.
Walorski says more than 40,000 small business owners in Indiana have applied for the PPP loans. She says Indiana business owners have received roughly 8 billion dollars all together through the loan program.
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