Business owners can begin applying for funding through the Paycheck Protection Program beginning today – Friday, April 3.
The Paycheck Protection Program, part of the federal CARES Act, offers forgivable loans to small businesses who retain employees on their payroll. The goal is to retain relationships between employers and employees.
We encourage you to contact your banker to apply for this program. All the funding under the Paycheck Protection Program will be distributed by local banks and credit unions – so your banker is your frontline source for more information.
The U.S. Treasury also has more information on the program and the materials you will need in order to apply for the loan.
As always, you can find more information on loans, federal and state legislation and business operations resources at SupportSiouxFalls.biz. We also encourage you to contact us to share feedback on how the pandemic is impacting your business. The Chamber’s advocacy team is in regular contact with our local, state and federal officials and can convey your concerns about the type of ongoing support needed for our business community.