What’s Next Now that the Paycheck Protection Program Funds Are Exhausted?

Contact us

What’s Next Now that the Paycheck Protection Program Funds Are Exhausted?

You have probably seen on the news that the funds for the Paycheck Protection Program loan program have been exhausted.  What does that mean for you? 

If you’ve already applied but have not heard back from your lender, hold tight.  You may still have been approved and your lender may not have had a chance to get back to you yet.

If you have not applied, start preparing your paperwork.  Congress is negotiating what the next steps of relief look like.  It is possible the program will receive additional funding.  Get your paperwork together.  Go ahead and complete the application.  Make sure your business has updated profit and loss statements.   Get any supporting documents prepared.  If the funding comes, you do not want to miss out a second time.    

Share this post?

Disclaimer: Material contained in this website is intended for informational purposes only and should not be interpreted as legal advice. The content does not constitute an attorney-client relationship between the user and Law Offices of Christy Lee, P.C., and users should not act on the content without seeking legal counsel in their own jurisdictions.

Christy Lee

Christy Lee routinely writes about changes in tax law and current tax issues.