The Paycheck Defense System (PPP) is back soon after Congress authorized $284 billion in funding last month.

SAN ANTONIO — Extra aid is on the way for little companies in San Antonio and Bexar County.

The Paycheck Defense Program (PPP) is back again soon after Congress authorized $284 billion in funding final month. This method gives forgivable loans to companies to assist with masking payroll for personnel and eligible business enterprise expenditures. 

For the duration of the daily briefing Monday night, Mayor Ron Nirenberg stated certain company owners will get first dibs.

“Recognizing the require to get funding to more compact businesses and all those owned by people today of color, the Small Business enterprise Administration has executed new, targeted steering to guarantee funding reaches those who will need it most,” Mayor Nirenberg stated.

Corporations that borrowed by means of this application earlier in the pandemic can implement for a 2nd time. There is also dollars established aside for first-time borrowers.

The principles prioritize SBA’s receipt of bank loan candidates from group money institutions that function with lesser businesses and these owned by females, minorities and veterans. 

The PPP application portal opened this early morning for local community economic establishments in Texas. All those include things like Carry Fund, Men and women Fund and BCL of Texas. 

Mayor Nirenberg claimed compact enterprise proprietors should achieve out to one particular of these organizations to implement for a mortgage. 

He included that commencing Wednesday, all other banking companies and economic institutions will be able to submit purposes.

There are also loads of regional means for smaller company house owners that can be found here. You can also get in touch with 210-458-2272 or electronic mail [email protected] for a lot more guidance.