GRAND ISLAND - Small Business Administration relief programs that are being offered due to the coronavirus pandemic include the Paycheck Protection Program. Now extended timeframes for potential forgiveness of those loans have been signed into law by the President and terms have been enhanced for the program, where more than $100 billion remains to be disbursed. Small businesses may continue to apply for the PPP program through most lending institutions.

These are welcome changes for small businesses, especially those in the restaurant industry and on our main streets, many of whom have struggled to meet state and local re-opening guidelines, retain employees and meet the repayment period.

Barely two months after it was launched, the PPP has emerged as one of the most consequential, impactful and successful federal disaster response efforts in history. Since April 3, the day the PPP launched, more than 4.5 million potentially forgivable loans have been approved. These loans collectively are worth more than half a trillion dollars and have already helped 190,760 distressed small enterprises cover two months of payroll and other fixed expenses in the Region 7 states of Kansas, Missouri, Nebraska and Iowa as of May 30, 2020.

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