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Small Business Loans Available Through Payroll Protection Program

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Small businesses in Athens-Clarke County may be able to apply for a second round of loans from the federal government’s Payroll Protection Program. David Bradley is president of the Athens area Chamber of Commerce. He says some $320 billion should be available.

“Which would allow businesses of 500 employees or less to apply for a loan directly with their financial institution,” Bradley said. “And the portion of that loan which was used to maintain payroll for a minimum of eight weeks, would be forgiven.”

Bradley says most participating banks are those that are already set up to be SBA lenders and they prioritize their existing customers, leaving some local businesses without access to the funding.

“If somebody would contact me at the Chamber at david.bradley@athensga.com, and just tell me that you’re interested in, to make it easy, the Payroll Protection Program, I’ll make sure we get you the form. Within 30 to 45 minutes we’ll get you connected to a local banker.”

Bradley says the money could be available Friday, but those interested need to apply now.

“It’s anticipated this next pool of the money, the $320 billion, it’s expected that it won’t last more than three or four days. SO it’s important for people to get their applications in now.

Once again that’s david.bradley@athensga.com. *Update* Congress aprroved $310 billion.

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