Can Small Businesses Still Apply for PPP Loans? Yes — but Not for Long

The clock is ticking for small business owners who need financial help in order to survive the coronavirus crisis.

Tuesday, June 30 is the application deadline for the Paycheck Protection Program, a CARES Act initiative that provides loans to businesses that agree to keep employees on payroll — even if the pandemic prevents them from coming into work.

Nicknamed PPP, the loans are forgivable if qualified borrowers use the money for certain purposes, including payroll, rent, mortgage payments, interest and utilities. (If they don’t, and headcount, wages or salaries decrease, the level of forgiveness goes down.)

Julia Glum |

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