Federal Paycheck Protection Program reopens amid pandemic

Coronavirus

FILE: $100 bills. (NEXSTAR)

ROANOKE, Va. (WFXR) — The City of Roanoke shared a reminder with local businesses that the U.S. Small Business Administration has reopened the federal Paycheck Protection Program.

Applications for this forgivable loan — which serves to help businesses survive during the pandemic — must be submitted to a bank or other lender, not directly to the SBA.

As for previous recipients, officials say they are eligible for a second loan.

Even though lenders have not received all guidelines for the program yet, the City of Roanoke encourages anyone interested in applying to contact their bank immediately.

For more information on this round of the program, you can either check out the SBA’s website or watch the Roanoke Regional Small Business Development Center’s recorded presentation, as well as the accompanying presentation slides.  

If you have any questions, contact the Roanoke Regional Small Business Development Center by emailing hello@roanokesmallbusiness.org or calling (703) 277-7703.

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