Banking

If you didn’t get PPP before it ran out, there are 15 sources of emergency funding for businesses still available

  • Paycheck Protection Program loans have mostly been exhausted.
  • The SBA approved nearly $224 billion in PPP loans as of April 5, leaving $68 billion in funds.
  • We listed other emergency funding resources available now for small businesses in need.
  • Visit Business Insider’s homepage for more stories.

More than 99% of all American businesses are small businesses, and they employ more than half of the workforce.

Preliminary studies by the US government estimate that 200,000 more businesses closed permanently because of the COVID-19 pandemic, compared to annual closures in prior years. In addition to the immediate public health crisis, the global pandemic kicked off a

recession
that is further impacting the survival of small businesses.

The Small Business Administration’s Paycheck Protection Program aimed to provide financial support for struggling entrepreneurs and has approved nearly $224 billion in PPP loans as of April 5. The program closed applications on May 31. However, there are still other ways to get funding, either through state and local governments or through corporate initiatives. 

Continue reading to see a list of emergency-funding resources available right now from public and private sources for small businesses suffering economic disruption due to the coronavirus.

You can check out all of our PPP-related coverage here.

This post was last updated on June 28, 2021.

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