With the launch of 2021 Coronavirus relief programs, Governor Laura Kelly has announced Kansans can submit applications to the 2021 Federal Paycheck Protection Program – or PPP – for forgivable loans to small businesses.
The PPP is a federally administered program providing loans to small businesses to cover payroll expenses.
Applications will be accepted through March 31.
The 2021 PPP aims to make the program more attractive for small businesses, and target the worst-impacted industries.
Under the new program, $234 billion is available, with $12 billion earmarked for businesses in low-income and minority communities, as well as $15 billion in grants dedicated to live entertainment venues.
Businesses that have not received PPP funds previously are eligible for loans up to $10 million if they have 500 or fewer employees.
Businesses that received PPP funds during the first round are eligible for up to $2 million in funding if they have 300 or fewer employees.