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