U.S. Sen. Doug Jones, D-Alabama, on Friday encouraged Alabama’s small businesses to apply for COVID-19 relief funds through the Paycheck Protection Program before the June 30 deadline.
“All small businesses in Alabama should reach out to their bank or credit union to check to see if they’re eligible to benefit from PPP loans before the program closes on Tuesday,” Jones said in a statement. “We need to do everything we can to help workers and small businesses in our state that have been hurt by the coronavirus. This program is a great opportunity to receive relief funds that could make a huge difference while they try to weather this pandemic.”
The Paycheck Protection Program provides loans to small businesses impacted by COVID-19 to keep workers on the payroll during the crisis. If all workers are kept on the payroll for twenty-four weeks and the money is used for payroll, rent, mortgage interest, or utilities, the loans can be forgiven.
Businesses can apply through any existing Small Business Administration lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating, according to the press release.
Jones has been a vocal supporter for more aid to small businesses and individuals during the COVID-19 pandemic, and introduced legislation to cover wages and benefits of workers in affected businesses and non-profits.
More information about how to apply for a PPP loan can be found here.