SBA’s prime supervisor in Pittsburgh expects PPP funding to run out earlier than deadline – WPXI
PITTSBURGH – PPP received an additional two months but no recovery in US dollars. With around $ 10 billion in credit in recent weeks, it is almost certain that the deadline has passed.
The $ 284 billion paycheck protection program has approximately $ 51 billion left through April 11.
PPP, the federal government-funded loan program created to get quick cash to small business owners affected by the pandemic, restarted in January and recently extended to May 31.
“I encourage small businesses that plan to apply very soon,” said Kelly Hunt, director of the Western Pennsylvania District for the US Small Business Administration. The SBA manages PPP. “We do not assume that the remaining funds will outlast the duration of the extension.”
Read more from our news partners in the Pittsburgh Business Times.