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New round of PPP loans are now available for small businesses

‘All of our businesses are struggling.’

ROANOKE, Va. – Small businesses now have another shot to apply for COVID-19 financial relief.

Federal Paycheck Protection Program (PPP) loans have been reinstated to begin 2021. The loans are available for both businesses who skipped the first round of applications and those who received financial aid already.

Amanda Forrester, the executive director of the Roanoke Region Small Business Development Center, encourages every business to try and apply for money.

She said many businesses never attempted to contact her office during the first PPP loan period, and in turn, missed out on aid they could have received.

“All of our businesses are struggling,” Forrester said. “Even those business who are making income and are still open, certainly the revenues are not what they were last year. That’s what the expenses are built off of, and so many people have had to shave those.”

Forrester said individual contractors and businesses with no employees are also eligible to apply for PPP loans.

Click here for more information from the U.S. Small Business Administration.