New COVID relief bill passes; PPP round 2 opens on Monday, April 27th

New COVID relief bill passes; PPP round 2 opens on Monday, April 27th

New COVID relief bill passes; PPP round 2 opens on Monday, April 27th
Reading Time: < 1 minute(Last Updated On: April 26, 2020)

Lenders and business owners are rushing to prepare themselves this weekend as an additional $310 billion in Paycheck Protection Program loans is set to be distributed Monday.

Many applications from round 1 are still waiting to get approved while even more applications continue to flood into the program.

Reports suggest that applications in round 2 will be assessed in more detail by the Treasury Department, after several big-name restaurant chains were criticized for obtaining the funds that were meant for small businesses hit by the coronavirus crisis.

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