AUSTIN, Texas — Small businesses across Texas may get a chance to apply for more federal relief dollars.
Congress is looking to pump billions into the Paycheck Protection Program (PPP), which is money to keep employees on the payroll.
The funding for the program was marked to last months, but the feds ran out in weeks.
The PPP comes from the Small Business Administration (SBA). It’s a loan but can be forgiven if the money is used mostly for payroll.
If funded again, SBA’s online map can help you find eligible lenders.
The SBA won’t say which local businesses got a loan already, but they likely went through a bank near you.
More than 134,000 Texas businesses got a loan in the first round of funding, totaling more than $28 billion to the state. But the money wasn’t spread evenly. U.S. Securities and Exchange filings show publicly traded companies got millions.
It’s something lawmakers, like Sen. John Cornyn, promise to curtail in the future.
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