As the second wave of the Paycheck Protection Program continues to move forward, one local adviser said that this is a good sign for small businesses.
John Fee of Lendio Erie said that he is here to help smaller businesses figure out the best way to apply.
This wave involved an additional approved 310 billion dollars. This round of loans were also geared toward small businesses. Fee also said that the average loan size is about $70,000.
“The bottom line for business owners out there is there is still time to apply and potentially be approved and funded for this second wave of loans,” said Fee.
Fee also added that there is a possibility businesses could have the PPP loan forgiven if you use the loan properly.