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Payroll Protection Program Re-Opens Today

Local small businesses affected by the impacts of the Coronavirus (COVID-19) are able to apply for the Paycheck Protection Program, or PPP, again beginning today. Businesses are encouraged to act quickly to apply for PPP funds by contacting their financial institution, accountant or attorney. Money is available on a first-come, first-serve basis and is expected to be depleted even faster than the first round of funding. Businesses who received previous funding are not allowed to receive more.
 
The U.S. Small Business Administration’s Payroll Protection Program is a low-interest loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. For more information on the PPP, visit: sba.gov/paycheckprotection.

Additional Federal and State assistance is available for small businesses in the state of Iowa. Information can be found on the Sioux City Economic Development website at www.locatesiouxcity.com/coronavirus.