Back to All NewsSmall Business Rescue Faces Crunch Just Days After Congress Extended It
Posted By American Med Spa Association, Tuesday, April 6, 2021
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Washington's nearly $1 trillion small business rescue, now under the watch of President Joe Biden, is about to slam into a new obstacle—it’s already running out of money.
The Small Business Administration is warning lawmakers that funds for the Paycheck Protection Program, which offers forgivable loans to small businesses, will likely dry up later this month, well before the May 31 deadline for firms to request aid. As of last week, it had about $66 billion remaining out of the nearly $292 billion appropriated by Congress since December.
Read more at Politico >>
The Small Business Administration is warning lawmakers that funds for the Paycheck Protection Program, which offers forgivable loans to small businesses, will likely dry up later this month, well before the May 31 deadline for firms to request aid. As of last week, it had about $66 billion remaining out of the nearly $292 billion appropriated by Congress since December.
Read more at Politico >>
