NEWBURGH –The Small Business Administration will re-open the Paycheck Protection Program (PPP) starting Monday, following the passage of Congress’s bipartisan COVID-19 relief legislation.
“This program has been a lifeline for over 11,000 small businesses here in the Hudson Valley as we fight this virus,” said Congressman Sean Patrick Maloney (D, NY-18). He urged every small business owner who needs assistance to apply for their first – or second – PPP loan as soon as possible. “These largely-forgivable loans help keep workers on the payroll and the doors open, which is critical as we recover and rebuild from the economic damage caused by the coronavirus pandemic,” he said.
“Small businesses are the backbone of our economy, and they have been decimated by this pandemic. Hopefully, with a vaccine now rolling out, we can quickly begin what is going to be a long road to recovery,” said Frank Castella, Jr., president of the Dutchess County Regional Chamber of Commerce.
“Throughout this pandemic, businesses have looked to Chambers for guidance and always received it, even as the Chambers themselves were experiencing their own financial losses. Since the start of the pandemic, my Chamber, the Orange County Chamber of Commerce, has provided assistance to over 300 PPP applications, made over one million referrals through our website member directory, in addition to all of our other vitally important services to our members. The PPP program will allow us and other Chambers to continue our vitally important work,” said Lynn Allen Cione, president of the Orange County Chamber of Commerce.
In New York’s 18th Congressional District, over 11,070 small businesses utilized the PPP in the first round of loan disbursement, helping keep over 96,000 workers on the payroll.
On Monday, the program will reopen to small businesses that have not already obtained a PPP loan. On Wednesday, the program will reopen for small businesses who have drawn a PPP loan in the first iteration of the program.
For more information on this program, visit sba.gov/ppp.