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The Small Business Administration and Department of the Treasury announced plans to reopen Paycheck Protection Program loan applications starting with community financial institutions on Monday, January 11.
The bill Congress passed in December allocated $284 billion to COVID relief including opening up the PPP again. Our December 29 post details the changes to the PPP.
The SBA announcement sets the calendar for which borrowers can apply and when.
January 11 - Community financial institutions can offer PPP loans to first-time borrowers.
January 13 - Community financial institutions can offer PPP loans to second-time borrowers.
The program will open to other lenders at a later date.