(WTRF) – If you’re a small business that could use some financial help, there’s still some money left through the Payroll Protection Program.
Financial experts say the Payroll Protection Program has been the most popular loan over the last month. It’s backed by the federal level and SBA.
The Treasury at the federal level has released more than 300 billion dollars in the first round and second round for small businesses alike. Financial experts say the money in the first round was taken up in days, but it isn’t too late to apply for loans.
“They have to stay on top of it, and they have to treat it as a job where they’re following the rules, getting with their accountants, and talking with advisors.”Rich Lucas, President of Main Street Bank
The rules and qualifications for the Payroll Protection Program are constantly changing.
If you keep up with the Payroll Protection Program, Lucas says you could get some of the loan forgiven where you don’t pay the principle back as long as you protect the payroll of the company and keep your employees working.
You could also see if you qualify for a commercial loan, economic incentive loans, or disaster loans as a small business.